Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 114,264 Shares of Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider Sanjit Biswas sold 114,264 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $38.70, for a total transaction of $4,422,016.80. Following the transaction, the insider owned 72,000 shares in the company, valued at $2,786,400. This represents a 61.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Sanjit Biswas also recently made the following trade(s):

• On Wednesday, July 9th, Sanjit Biswas sold 45,736 shares of Samsara stock. The shares were sold at an average price of $39.18, for a total transaction of $1,791,936.48.
• On Tuesday, June 24th, Sanjit Biswas sold 160,000 shares of Samsara stock. The shares were sold at an average price of $39.58, for a total transaction of $6,332,800.00.
• On Wednesday, June 4th, Sanjit Biswas sold 23,605 shares of Samsara stock. The shares were sold at an average price of $46.38, for a total transaction of $1,094,799.90.
• On Tuesday, June 3rd, Sanjit Biswas sold 136,395 shares of Samsara stock. The shares were sold at an average price of $46.03, for a total transaction of $6,278,261.85.
• On Thursday, May 22nd, Sanjit Biswas sold 42,526 shares of Samsara stock. The shares were sold at an average price of $46.23, for a total transaction of $1,965,976.98.
• On Wednesday, May 21st, Sanjit Biswas sold 63,017 shares of Samsara stock. The stock was sold at an average price of $46.54, for a total transaction of $2,932,811.18.
• On Tuesday, May 20th, Sanjit Biswas sold 54,457 shares of Samsara stock. The stock was sold at an average price of $47.33, for a total transaction of $2,577,449.81.
• On Thursday, May 8th, Sanjit Biswas sold 21,735 shares of Samsara stock. The stock was sold at an average price of $42.98, for a total transaction of $934,170.30.
• On Tuesday, May 6th, Sanjit Biswas sold 73,398 shares of Samsara stock. The stock was sold at an average price of $41.30, for a total transaction of $3,031,337.40.
• On Tuesday, April 22nd, Sanjit Biswas sold 160,000 shares of Samsara stock. The stock was sold at an average price of $34.97, for a total transaction of $5,595,200.00.

Samsara Price Performance

Shares of Samsara stock traded down $0.38 during trading on Friday, hitting $37.31. 4,123,383 shares of the company's stock traded hands, compared to its average volume of 4,020,906. The firm's fifty day moving average price is $42.58 and its 200 day moving average price is $43.56. Samsara Inc. has a twelve month low of $31.40 and a twelve month high of $61.90. The company has a market cap of $21.24 billion, a PE ratio of -169.59 and a beta of 1.63.

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

Hedge Funds Weigh In On Samsara

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 414 shares in the last quarter. Keystone Financial Group Inc. lifted its position in shares of Samsara by 300.0% during 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 in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Samsara during the fourth quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Samsara during the first quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Samsara during the fourth quarter worth approximately $38,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IOT has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. BMO Capital Markets raised their price target on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Morgan Stanley decreased their price target on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Evercore ISI set a $45.00 price target on shares of Samsara in a research report on Wednesday, June 25th. Finally, Piper Sandler set a $53.00 price target on shares of Samsara and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $50.64.

Samsara Company Profile

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.