Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 160,000 Shares of Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider Sanjit Biswas sold 160,000 shares of Samsara stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the transaction, the insider now directly owns 78,000 shares in the company, valued at $3,087,240. This trade represents a 67.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• 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 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 shares were sold at an average price of $46.54, for a total value of $2,932,811.18.
• On Tuesday, May 20th, Sanjit Biswas sold 54,457 shares of Samsara stock. The shares were sold at an average price of $47.33, for a total value of $2,577,449.81.
• On Thursday, May 8th, Sanjit Biswas sold 21,735 shares of Samsara stock. The shares were sold at an average price of $42.98, for a total value of $934,170.30.
• On Tuesday, May 6th, Sanjit Biswas sold 73,398 shares of Samsara stock. The shares were sold at an average price of $41.30, for a total value 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.
• On Tuesday, April 8th, Sanjit Biswas sold 160,000 shares of Samsara stock. The stock was sold at an average price of $34.89, for a total transaction of $5,582,400.00.

Samsara Price Performance

Shares of Samsara stock traded down $0.07 during trading hours on Friday, hitting $39.65. The company had a trading volume of 29,766,551 shares, compared to its average volume of 3,950,035. The company's 50-day moving average is $42.56 and its two-hundred day moving average is $44.01. 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 $22.57 billion, a P/E ratio of -180.23 and a beta of 1.74.

Samsara (NYSE:IOT - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $366.88 million during the quarter, compared to analysts' expectations of $351.44 million. During the same quarter in the prior year, the business posted $0.03 EPS. The company's revenue for the quarter was up 30.7% on a year-over-year basis. Sell-side analysts expect that Samsara Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Royal Bank Of Canada cut their target price on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Morgan Stanley cut their target price on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Truist Financial lowered their price target on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $50.64.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Jennison Associates LLC boosted its stake in Samsara by 1,881.8% during the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock worth $450,881,000 after purchasing an additional 11,169,571 shares during the period. FMR LLC boosted its stake in Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after purchasing an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC acquired a new stake in Samsara during the 4th quarter worth $112,041,000. Vanguard Group Inc. boosted its stake in Samsara by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company's stock worth $900,581,000 after purchasing an additional 2,516,882 shares during the period. Finally, Norges Bank acquired a new stake in Samsara during the 4th quarter worth $106,274,000. Institutional investors and hedge funds own 96.02% of the company's stock.

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.