Sanjit Biswas Sells 45,736 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider Sanjit Biswas sold 45,736 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $39.18, for a total transaction of $1,791,936.48. Following the completion of the transaction, the insider owned 1,105,902 shares in the company, valued at $43,329,240.36. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 stock was 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 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.
• On Tuesday, May 6th, Sanjit Biswas sold 73,398 shares of Samsara stock. The stock was sold at an average price of $41.30, for a total transaction of $3,031,337.40.
• On Tuesday, April 22nd, Sanjit Biswas sold 160,000 shares of Samsara stock. The shares were sold at an average price of $34.97, for a total transaction of $5,595,200.00.

Samsara Price Performance

Shares of NYSE IOT traded down $0.38 during trading on Friday, hitting $37.31. 4,123,383 shares of the company were exchanged, compared to its average volume of 4,020,906. The company has a market cap of $21.24 billion, a price-to-earnings ratio of -169.59 and a beta of 1.63. Samsara Inc. has a 1 year low of $31.40 and a 1 year high of $61.90. The firm's fifty day moving average price is $42.58 and its 200 day moving average price is $43.56.

Samsara (NYSE:IOT - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $366.88 million for the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.03 EPS. On average, research analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in shares of Samsara by 123.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,951 shares of the company's stock worth $237,000 after buying an additional 3,287 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Samsara by 31.9% during the 2nd quarter. UMB Bank n.a. now owns 1,904 shares of the company's stock worth $76,000 after buying an additional 461 shares during the last quarter. Westwind Capital raised its stake in shares of Samsara by 1.6% during the 2nd quarter. Westwind Capital now owns 520,590 shares of the company's stock worth $20,710,000 after buying an additional 8,129 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Samsara by 29.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 13,442 shares of the company's stock worth $535,000 after buying an additional 3,098 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its stake in shares of Samsara by 4.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 51,919 shares of the company's stock worth $2,065,000 after buying an additional 2,410 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Analysts Set New Price Targets

IOT has been the topic of a number of analyst reports. Piper Sandler set a $53.00 price objective on shares of Samsara and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets lifted their price objective on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Morgan Stanley lowered their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Evercore ISI set a $45.00 price objective on shares of Samsara in a research report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $50.64.

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.