Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 132,368 Shares of Stock

Key Points

• Insider John Bicket sold a significant 132,368 shares of Samsara Inc. stock on August 5th, amounting to approximately $4.8 million, reducing his ownership by 68.81%.
• Despite recent stock dips, Samsara reported a 30.7% revenue increase year-over-year, with earnings per share of $0.11 in its last quarterly report, exceeding analyst expectations.
• Research analysts have mixed ratings for Samsara, with a consensus rating of "Hold" and an average target price of $50.21.

Samsara Inc. (NYSE:IOT - Get Free Report) insider John Bicket sold 132,368 shares of Samsara stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $36.23, for a total value of $4,795,692.64. Following the transaction, the insider directly owned 60,000 shares in the company, valued at approximately $2,173,800. The trade was a 68.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

John Bicket also recently made the following trade(s):

• On Wednesday, August 6th, John Bicket sold 37,632 shares of Samsara stock. The stock was sold at an average price of $36.15, for a total value of $1,360,396.80.
• On Wednesday, July 23rd, John Bicket sold 45,952 shares of Samsara stock. The shares were sold at an average price of $38.67, for a total transaction of $1,776,963.84.
• On Tuesday, July 22nd, John Bicket sold 124,048 shares of Samsara stock. The shares were sold at an average price of $37.88, for a total transaction of $4,698,938.24.
• On Wednesday, July 9th, John Bicket sold 56,113 shares of Samsara stock. The stock was sold at an average price of $39.22, for a total transaction of $2,200,751.86.
• On Tuesday, July 8th, John Bicket sold 113,887 shares of Samsara stock. The stock was sold at an average price of $38.70, for a total value of $4,407,426.90.
• On Tuesday, June 24th, John Bicket sold 170,000 shares of Samsara stock. The stock was sold at an average price of $39.42, for a total value of $6,701,400.00.
• On Wednesday, June 4th, John Bicket sold 33,713 shares of Samsara stock. The stock was sold at an average price of $46.46, for a total value of $1,566,305.98.
• On Tuesday, June 3rd, John Bicket sold 136,287 shares of Samsara stock. The stock was sold at an average price of $46.03, for a total value of $6,273,290.61.
• On Thursday, May 22nd, John Bicket sold 52,573 shares of Samsara stock. The stock was sold at an average price of $46.25, for a total value of $2,431,501.25.
• On Wednesday, May 21st, John Bicket sold 63,279 shares of Samsara stock. The stock was sold at an average price of $46.54, for a total value of $2,945,004.66.

Samsara Price Performance

IOT stock traded down $2.14 during trading on Thursday, hitting $34.64. 7,470,500 shares of the company traded hands, compared to its average volume of 3,923,735. The stock's 50-day simple moving average is $39.71 and its 200 day simple moving average is $42.66. The company has a market cap of $19.72 billion, a PE ratio of -157.43 and a beta of 1.62. Samsara Inc. has a 1 year low of $31.40 and a 1 year high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate 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 company had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same period last year, the company earned $0.03 earnings per share. Samsara's quarterly revenue was up 30.7% compared to the same quarter last year. Research analysts expect that Samsara Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of Samsara

Institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its position 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 in the last quarter. Keystone Financial Group Inc. lifted its position 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 in the last quarter. Catalyst Capital Advisors LLC purchased a new position in Samsara during the second quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Samsara during the first quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC purchased a new position in Samsara during the fourth quarter worth approximately $38,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Evercore ISI set a $45.00 price objective on Samsara in a research report on Wednesday, June 25th. Morgan Stanley dropped their price objective 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. Wall Street Zen downgraded Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, BMO Capital Markets increased their price target on Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $50.21.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.