Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 10,083 Shares of Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider Adam Eltoukhy sold 10,083 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $38.77, for a total transaction of $390,917.91. Following the transaction, the insider directly owned 358,720 shares of the company's stock, valued at $13,907,574.40. This represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Adam Eltoukhy also recently made the following trade(s):

• On Friday, June 27th, Adam Eltoukhy sold 10,083 shares of Samsara stock. The shares were sold at an average price of $39.89, for a total transaction of $402,210.87.
• On Monday, June 16th, Adam Eltoukhy sold 18,643 shares of Samsara stock. The shares were sold at an average price of $39.21, for a total transaction of $730,992.03.
• On Tuesday, June 10th, Adam Eltoukhy sold 10,451 shares of Samsara stock. The shares were sold at an average price of $41.23, for a total transaction of $430,894.73.

Samsara Stock Up 2.2%

IOT stock traded up $0.85 during midday trading on Friday, reaching $38.97. The company's stock had a trading volume of 1,989,172 shares, compared to its average volume of 5,487,480. Samsara Inc. has a 52 week low of $31.40 and a 52 week high of $61.90. The stock has a market cap of $22.19 billion, a PE ratio of -177.13 and a beta of 1.63. The business's 50-day simple moving average is $41.32 and its 200-day simple moving average is $43.13.

Samsara (NYSE:IOT - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The firm had revenue of $366.88 million for the quarter, compared to analysts' expectations of $351.44 million. During the same period last year, the firm earned $0.03 earnings per share. The business's revenue for the quarter was up 30.7% on a year-over-year basis. As a group, equities analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IOT has been the topic of a number of analyst reports. Piper Sandler set a $53.00 target price on shares of Samsara and gave the company an "overweight" rating in a research note on Wednesday, June 25th. BMO Capital Markets upped their target price on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Wall Street Zen cut shares of Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wells Fargo & Company raised their price objective on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Evercore ISI set a $45.00 price objective on shares of Samsara in a report on Wednesday, June 25th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.64.

Hedge Funds Weigh In On Samsara

A number of hedge funds and other institutional investors have recently bought and sold shares of IOT. NewEdge Advisors LLC raised its holdings in Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 414 shares during the period. Keystone Financial Group Inc. raised its holdings in Samsara by 300.0% in the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock worth $25,000 after purchasing an additional 450 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Samsara in the first quarter worth $31,000. Fourth Dimension Wealth LLC acquired a new stake in Samsara in the fourth quarter worth $38,000. Finally, CWM LLC raised its holdings in Samsara by 385.3% in the first quarter. CWM LLC now owns 1,053 shares of the company's stock worth $40,000 after purchasing an additional 836 shares during the period. 96.02% of the stock is owned by institutional investors.

About Samsara

Samsara Inc provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.