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 the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the completion of the sale, the insider now directly owns 78,000 shares of the company's stock, valued at $3,087,240. This represents a 67.23% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock was 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 stock was 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 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 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 stock was 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 shares were sold at an average price of $34.97, for a total value 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 Stock Up 2.8%

NYSE IOT traded up $1.07 during mid-day trading on Thursday, reaching $39.72. 5,707,385 shares of the stock were exchanged, compared to its average volume of 3,876,083. Samsara Inc. has a 1-year low of $31.11 and a 1-year high of $61.90. The business's fifty day simple moving average is $42.47 and its 200 day simple moving average is $44.14.

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

Institutional Trading of Samsara

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOT. NewEdge Advisors LLC lifted its holdings in shares of Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after acquiring an additional 414 shares during the period. Keystone Financial Group Inc. increased 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 purchasing an additional 450 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Samsara during the fourth quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Samsara during the first quarter worth approximately $31,000. Finally, IFP Advisors Inc boosted its holdings in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock valued at $35,000 after purchasing an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wells Fargo & Company boosted 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. Royal Bank Of Canada decreased their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Cowen reaffirmed a "buy" rating on shares of Samsara in a research note on Friday, March 7th. BMO Capital Markets boosted their target price on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Finally, Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $50.20.

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.

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