Samsara Inc. (NYSE:IOT) Insider Sanjit Biswas Sells 124,158 Shares

Samsara Inc. (NYSE:IOT - Get Free Report) insider Sanjit Biswas sold 124,158 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $37.88, for a total transaction of $4,703,105.04. Following the completion of the sale, the insider directly owned 66,000 shares in the company, valued at approximately $2,500,080. The trade was a 65.29% decrease in their ownership of the stock. 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, July 23rd, Sanjit Biswas sold 35,842 shares of Samsara stock. The shares were sold at an average price of $38.63, for a total transaction of $1,384,576.46.
• On Wednesday, July 9th, Sanjit Biswas sold 45,736 shares of Samsara stock. The shares were sold at an average price of $39.18, for a total transaction of $1,791,936.48.
• On Tuesday, July 8th, Sanjit Biswas sold 114,264 shares of Samsara stock. The shares were sold at an average price of $38.70, for a total transaction of $4,422,016.80.
• On Tuesday, June 24th, Sanjit Biswas sold 160,000 shares of Samsara stock. The shares were sold at an average price of $39.58, for a total transaction of $6,332,800.00.
• On Wednesday, June 4th, Sanjit Biswas sold 23,605 shares of Samsara stock. The shares were sold at an average price of $46.38, for a total transaction of $1,094,799.90.
• On Tuesday, June 3rd, Sanjit Biswas sold 136,395 shares of Samsara stock. The stock was sold at an average price of $46.03, for a total transaction 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 transaction of $1,965,976.98.
• On Wednesday, May 21st, Sanjit Biswas sold 63,017 shares of Samsara stock. The stock was 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 stock was sold at an average price of $42.98, for a total transaction of $934,170.30.

Samsara Stock Down 1.3%

IOT traded down $0.49 during midday trading on Thursday, hitting $38.12. The company had a trading volume of 2,912,841 shares, compared to its average volume of 5,627,705. Samsara Inc. has a 52 week low of $31.40 and a 52 week high of $61.90. The company has a market capitalization of $21.70 billion, a price-to-earnings ratio of -173.27 and a beta of 1.63. The stock's 50 day moving average price is $41.49 and its 200 day moving average price is $43.16.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Evercore ISI set a $45.00 price target on shares of Samsara in a research report on Wednesday, June 25th. Wells Fargo & Company raised their target price on shares of Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler set a $53.00 target price on shares of Samsara and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Finally, BMO Capital Markets raised their price target on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $50.64.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jennison Associates LLC raised its position in shares of Samsara by 1,881.8% in the first 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 period. FMR LLC raised its holdings in Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after purchasing an additional 2,852,575 shares in the last quarter. Vanguard Group Inc. increased its stake 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 worth $900,581,000 after acquiring an additional 2,516,882 shares in the last quarter. Norges Bank purchased a new stake in shares of Samsara during the 4th quarter valued at about $106,274,000. Finally, Baillie Gifford & Co. boosted its holdings in shares of Samsara by 7.1% in the first quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company's stock worth $1,352,186,000 after buying an additional 2,348,101 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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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