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 that occurred on Tuesday, July 8th. The shares were sold at an average price of $38.70, for a total value of $4,422,016.80. Following the transaction, the insider directly owned 72,000 shares of the company's stock, valued at approximately $2,786,400. This trade represents a 61.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value 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 value 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 value 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 value 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 value 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 shares were sold at an average price of $34.97, for a total value of $5,595,200.00.

Samsara Price Performance

Shares of IOT traded down $0.38 during mid-day trading on Friday, reaching $37.31. 4,123,383 shares of the company's stock traded hands, compared to its average volume of 4,026,126. The stock has a market cap of $21.24 billion, a P/E ratio of -169.59 and a beta of 1.63. The stock's 50-day moving average is $42.58 and its two-hundred day moving average is $43.55. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last announced its quarterly earnings results 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 return on equity of 11.14% and a negative net margin of 9.04%. The firm had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. Samsara's quarterly revenue was up 30.7% on a year-over-year basis. Research analysts predict that Samsara Inc. will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on IOT. Wells Fargo & Company lifted their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Evercore ISI set a $45.00 target price on Samsara in a research report on Wednesday, June 25th. Piper Sandler set a $53.00 target price on Samsara and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Morgan Stanley lowered their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, BMO Capital Markets lifted their target price on Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Samsara currently has a consensus rating of "Hold" and an average price target of $50.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after buying an additional 414 shares during the period. Keystone Financial Group Inc. lifted its holdings in 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 buying an additional 450 shares during the period. Jones Financial Companies Lllp purchased a new stake in Samsara during the fourth quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Samsara during the first quarter worth $31,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in Samsara during the fourth quarter worth $38,000. Institutional investors own 96.02% of the company's stock.

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.