Samsara Inc. (NYSE:IOT) Insider Sanjit Biswas Sells 27,602 Shares

Key Points

• Insider Sanjit Biswas sold 27,602 shares of Samsara Inc. at an average price of $36.20, totaling nearly $1 million, representing a 3.14% decrease in his ownership.
• Samsara's stock recently dropped to $34.64, down from a 12-month high of $61.90, and currently has a market capitalization of about $19.72 billion.
• After a successful earnings report, Samsara has received mixed responses from analysts, with changes in ratings and price targets, while analysts expect a -0.3 EPS for the current fiscal year.

Samsara Inc. (NYSE:IOT - Get Free Report) insider Sanjit Biswas sold 27,602 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $36.20, for a total transaction of $999,192.40. Following the transaction, the insider owned 851,902 shares of the company's stock, valued at $30,838,852.40. This trade represents a 3.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, August 5th, Sanjit Biswas sold 132,398 shares of Samsara stock. The stock was sold at an average price of $36.23, for a total value of $4,796,779.54.
• 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 Tuesday, July 22nd, Sanjit Biswas sold 124,158 shares of Samsara stock. The shares were 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 stock was 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 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 stock was sold at an average price of $39.58, for a total value 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 shares were 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 value of $2,932,811.18.

Samsara Price Performance

Shares of NYSE IOT traded down $2.14 on Thursday, hitting $34.64. The company's stock had a trading volume of 7,470,500 shares, compared to its average volume of 3,923,735. Samsara Inc. has a 12-month low of $31.40 and a 12-month high of $61.90. The company has a market capitalization of $19.72 billion, a price-to-earnings ratio of -157.43 and a beta of 1.62. The stock has a 50 day moving average of $39.71 and a 200-day moving average of $42.66.

Samsara (NYSE:IOT - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping 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 company's quarterly revenue was up 30.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 earnings per share. Sell-side analysts expect that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Evercore ISI set a $45.00 target price on shares of Samsara in a research report on Wednesday, June 25th. Morgan Stanley dropped their price target 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. Wells Fargo & Company boosted their price target on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, BMO Capital Markets lifted their price objective on Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Samsara has an average rating of "Hold" and a consensus price target of $50.21.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IOT. Teacher Retirement System of Texas acquired a new position in Samsara during the first quarter worth approximately $1,457,000. Wells Fargo & Company MN raised its position in shares of Samsara by 101.4% in the 4th quarter. Wells Fargo & Company MN now owns 129,176 shares of the company's stock worth $5,644,000 after buying an additional 65,028 shares during the period. Renaissance Technologies LLC boosted its holdings in Samsara by 30.4% in the fourth quarter. Renaissance Technologies LLC now owns 764,300 shares of the company's stock valued at $33,392,000 after acquiring an additional 178,102 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in Samsara during the first quarter valued at about $273,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Samsara by 99.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,909,336 shares of the company's stock worth $74,082,000 after purchasing an additional 952,791 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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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