Samsara Inc. (NYSE:IOT) Insider Sanjit Biswas Sells 132,398 Shares

Key Points

• Sanjit Biswas, an insider at Samsara Inc., recently sold 132,398 shares at an average price of $36.23, representing a 68.81% decrease in ownership, valued at approximately $4.8 million.
• Samsara's stock has seen a price decline, trading down to $34.64, with a market cap of $19.72 billion and a 52-week range between $31.40 and $61.90.
• Despite recent insider selling, analysts have mixed views, with the consensus target price for Samsara stock currently at $50.21, indicating some investment optimism.

Samsara Inc. (NYSE:IOT - Get Free Report) insider Sanjit Biswas sold 132,398 shares of Samsara stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $36.23, for a total value of $4,796,779.54. Following the completion of the transaction, the insider owned 60,000 shares of the company's stock, valued at approximately $2,173,800. This trade represents a 68.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sanjit Biswas also recently made the following trade(s):

• On Wednesday, August 6th, Sanjit Biswas sold 27,602 shares of Samsara stock. The stock was sold at an average price of $36.20, for a total transaction of $999,192.40.
• On Wednesday, July 23rd, Sanjit Biswas sold 35,842 shares of Samsara stock. The stock was sold at an average price of $38.63, for a total value of $1,384,576.46.
• On Tuesday, July 22nd, Sanjit Biswas sold 124,158 shares of Samsara stock. The stock was sold at an average price of $37.88, for a total value of $4,703,105.04.
• 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 value of $1,791,936.48.
• On Tuesday, July 8th, Sanjit Biswas sold 114,264 shares of Samsara stock. The stock was 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 stock was 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 shares were 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 shares were sold at an average price of $46.54, for a total transaction of $2,932,811.18.

Samsara Price Performance

Samsara stock traded down $2.14 during trading on Thursday, reaching $34.64. 7,470,500 shares of the company were exchanged, compared to its average volume of 3,923,735. 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 $19.72 billion, a P/E ratio of -157.43 and a beta of 1.62. The stock's 50 day simple moving average is $39.71 and its two-hundred day simple moving average is $42.66.

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

Institutional Investors Weigh In On Samsara

A number of large investors have recently bought and sold shares of the stock. Allworth Financial LP increased its position in shares of Samsara by 906.9% during the second quarter. Allworth Financial LP now owns 1,168 shares of the company's stock worth $46,000 after acquiring an additional 1,052 shares during the last quarter. Fountainhead AM LLC raised its holdings in shares of Samsara by 6.1% in the 2nd quarter. Fountainhead AM LLC now owns 34,855 shares of the company's stock worth $1,387,000 after purchasing an additional 1,994 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Samsara in the second quarter valued at $485,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Samsara by 21.9% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 413,317 shares of the company's stock valued at $16,442,000 after purchasing an additional 74,245 shares during the period. Finally, Aviva PLC raised its stake in Samsara by 6.9% during the 2nd quarter. Aviva PLC now owns 183,316 shares of the company's stock valued at $7,292,000 after purchasing an additional 11,768 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler reissued an "overweight" rating and issued a $47.00 price objective (down previously from $53.00) on shares of Samsara in a research report on Thursday. 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. Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Evercore ISI set a $45.00 target price on shares of Samsara in a research report on Wednesday, June 25th. Finally, BMO Capital Markets increased their target price on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of "Hold" and a consensus target price of $50.21.

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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