Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 113,887 Shares of Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider John Bicket sold 113,887 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $38.70, for a total transaction of $4,407,426.90. Following the completion of the transaction, the insider owned 72,000 shares in the company, valued at $2,786,400. This represents a 61.27% 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 hyperlink.

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

• 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, 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $2,945,004.66.
• On Tuesday, May 20th, John Bicket sold 54,148 shares of Samsara stock. The stock was sold at an average price of $47.33, for a total transaction of $2,562,824.84.

Samsara Stock Performance

Samsara stock traded down $0.38 during mid-day trading on Friday, reaching $37.31. The company's stock had a trading volume of 4,123,383 shares, compared to its average volume of 4,020,906. The company has a market capitalization of $21.24 billion, a price-to-earnings ratio of -169.59 and a beta of 1.63. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90. The business's 50 day simple moving average is $42.58 and its 200 day simple moving average is $43.56.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. grew its position in shares of Samsara by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company's stock valued at $1,352,186,000 after acquiring an additional 2,348,101 shares during the period. Vanguard Group Inc. grew its position in shares of Samsara by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company's stock valued at $900,581,000 after acquiring an additional 2,516,882 shares during the period. FMR LLC grew its position in shares of Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after acquiring an additional 2,852,575 shares during the period. Jennison Associates LLC grew its position in shares of Samsara by 1,881.8% in the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock valued at $450,881,000 after acquiring an additional 11,169,571 shares during the period. Finally, Invesco Ltd. grew its position in shares of Samsara by 20.1% in the 1st quarter. Invesco Ltd. now owns 4,174,153 shares of the company's stock valued at $159,995,000 after acquiring an additional 697,208 shares during the period. Institutional investors own 96.02% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IOT. Evercore ISI set a $45.00 target price on shares of Samsara in a report on Wednesday, June 25th. BMO Capital Markets increased their price objective on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Wall Street Zen downgraded shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley lowered their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company increased their price objective on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $50.64.

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.