Samsara (NYSE:IOT) Stock Price Down 2.6% Following Insider Selling

Samsara Inc. (NYSE:IOT - Get Free Report) was down 2.6% during trading on Friday following insider selling activity. The company traded as low as $38.32 and last traded at $38.43. Approximately 379,124 shares changed hands during trading, a decline of 89% from the average daily volume of 3,431,480 shares. The stock had previously closed at $39.47.

Specifically, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $30.73, for a total transaction of $2,950,080.00. Following the completion of the transaction, the chief executive officer now directly owns 1,115,921 shares of the company's stock, valued at approximately $34,292,252.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John Bicket sold 91,713 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $35.61, for a total transaction of $3,265,899.93. Following the transaction, the insider now directly owns 2,232,749 shares in the company, valued at approximately $79,508,191.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the company's stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $30.73, for a total transaction of $2,950,080.00. Following the completion of the sale, the chief executive officer now directly owns 1,115,921 shares of the company's stock, valued at approximately $34,292,252.33. The disclosure for this sale can be found here. Insiders have sold 1,837,779 shares of company stock worth $66,507,854 in the last 90 days. Insiders own 66.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IOT shares. StockNews.com downgraded shares of Samsara from a "hold" rating to a "sell" rating in a research note on Friday, May 17th. Loop Capital began coverage on Samsara in a report on Thursday, April 18th. They set a "buy" rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $32.60.

Samsara Trading Down 0.3 %

The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of -74.47 and a beta of 1.58. The firm's fifty day simple moving average is $36.27 and its two-hundred day simple moving average is $33.53.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08). The business had revenue of $276.27 million for the quarter, compared to the consensus estimate of $258.56 million. Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. As a group, analysts forecast that Samsara Inc. will post -0.4 EPS for the current fiscal year.

Institutional Trading of Samsara

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Samsara by 22.6% in the third quarter. Bank of New York Mellon Corp now owns 175,682 shares of the company's stock valued at $4,429,000 after buying an additional 32,369 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Samsara by 608.4% during the 3rd quarter. Principal Financial Group Inc. now owns 745,565 shares of the company's stock valued at $18,796,000 after buying an additional 640,321 shares during the last quarter. Victory Capital Management Inc. grew its stake in Samsara by 35.8% in the third quarter. Victory Capital Management Inc. now owns 97,178 shares of the company's stock worth $2,450,000 after purchasing an additional 25,597 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new stake in shares of Samsara during the third quarter worth $910,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Samsara by 20.2% in the 3rd quarter. New York State Common Retirement Fund now owns 94,575 shares of the company's stock worth $2,384,000 after purchasing an additional 15,895 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company's stock.

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.