Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 18,643 Shares of Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider Adam Eltoukhy sold 18,643 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $39.21, for a total value of $730,992.03. Following the sale, the insider now directly owns 358,720 shares of the company's stock, valued at approximately $14,065,411.20. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Adam Eltoukhy also recently made the following trade(s):

• On Tuesday, June 10th, Adam Eltoukhy sold 10,451 shares of Samsara stock. The stock was sold at an average price of $41.23, for a total value of $430,894.73.
• On Thursday, March 20th, Adam Eltoukhy sold 11,343 shares of Samsara stock. The stock was sold at an average price of $39.76, for a total transaction of $450,997.68.

Samsara Price Performance

Shares of NYSE:IOT traded up $0.46 during midday trading on Wednesday, hitting $38.68. The stock had a trading volume of 7,690,938 shares, compared to its average volume of 3,817,707. Samsara Inc. has a 12 month low of $28.69 and a 12 month high of $61.90. The business's 50-day simple moving average is $42.37 and its 200-day simple moving average is $44.70.

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 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 business had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. During the same quarter last year, the firm posted $0.03 EPS. The company's quarterly revenue was up 30.7% on a year-over-year basis. On average, research analysts expect that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Samsara

Several hedge funds have recently added to or reduced their stakes in the business. GLOBALT Investments LLC GA lifted its holdings in shares of Samsara by 0.3% during the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock worth $2,444,000 after buying an additional 182 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of Samsara by 0.5% during the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 54,000 shares of the company's stock worth $2,070,000 after buying an additional 250 shares in the last quarter. Nemes Rush Group LLC lifted its holdings in shares of Samsara by 7.8% during the first quarter. Nemes Rush Group LLC now owns 3,597 shares of the company's stock worth $138,000 after buying an additional 260 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Samsara by 4.6% during the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after buying an additional 281 shares in the last quarter. Finally, Continuum Advisory LLC lifted its holdings in shares of Samsara by 32.1% during the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock worth $51,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IOT shares. Truist Financial decreased their price target on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Morgan Stanley decreased their price target on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Craig Hallum reaffirmed a "hold" rating on shares of Samsara 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. Finally, Royal Bank Of Canada decreased their price target on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $50.00.

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.

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