Insider Selling: Samsara Inc. (NYSE:IOT) Director Sells 22,500 Shares of Stock

Samsara Inc. (NYSE:IOT - Get Free Report) Director Jonathan Chadwick sold 22,500 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $39.07, for a total transaction of $879,075.00. Following the completion of the sale, the director now owns 37,494 shares in the company, valued at $1,464,890.58. This represents a 37.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Samsara Stock Performance

Shares of NYSE:IOT traded up $0.46 during midday trading on Thursday, reaching $38.68. 7,690,938 shares of the company's stock traded hands, compared to its average volume of 3,817,709. Samsara Inc. has a 1 year low of $28.69 and a 1 year high of $61.90. The company has a market cap of $22.02 billion, a P/E ratio of -175.80 and a beta of 1.74. The company has a fifty day simple moving average of $42.38 and a two-hundred day simple moving average of $44.55.

Samsara (NYSE:IOT - Get Free Report) last posted 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 firm had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. During the same period in the prior year, the company earned $0.03 EPS. The firm's revenue was up 30.7% compared to the same quarter last year. As a group, research analysts forecast that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IOT. Jennison Associates LLC raised its stake in 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 purchasing an additional 11,169,571 shares during the last quarter. FMR LLC raised its stake in 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 purchasing an additional 2,852,575 shares during the last quarter. Jordan Park Trust Co LLC acquired a new position in Samsara in the 4th quarter valued at $112,041,000. Vanguard Group Inc. raised its stake in 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 purchasing an additional 2,516,882 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Samsara in the 4th quarter worth $106,274,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on IOT. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 price objective (up from $44.00) on shares of Samsara in a research note on Wednesday, May 14th. 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 note on Wednesday, April 16th. Raymond James Financial initiated coverage on shares of Samsara in a report on Wednesday, February 26th. They issued a "market perform" rating for the company. Royal Bank Of Canada cut their price objective on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, Wells Fargo & Company increased their price target on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.