Samsara (NYSE:IOT) Shares Gap Down After Insider Selling

Samsara Inc. (NYSE:IOT - Get Free Report) gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $42.34, but opened at $41.06. Samsara shares last traded at $40.88, with a volume of 739,736 shares traded.

Specifically, insider Adam Eltoukhy sold 10,451 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.23, for a total value of $430,894.73. Following the sale, the insider now owns 395,646 shares of the company's stock, valued at $16,312,484.58. This trade represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dominic Phillips sold 9,059 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $41.23, for a total transaction of $373,502.57. Following the transaction, the insider now owns 887,493 shares of the company's stock, valued at $36,591,336.39. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. In other news, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total value of $16,491,744.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on IOT shares. Craig Hallum reiterated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Wells Fargo & Company upped their price objective on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Cowen reiterated a "buy" rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets raised their target price on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 price target (up from $44.00) on shares of Samsara in a report on Wednesday, May 14th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Samsara currently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

Samsara Stock Down 4.3%

The company has a 50 day moving average of $42.04 and a two-hundred day moving average of $45.18. The firm has a market cap of $23.08 billion, a P/E ratio of -86.26 and a beta of 1.74.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $366.88 million for the quarter, compared to analysts' expectations of $351.44 million. Samsara had a negative return on equity of 19.44% and a negative net margin of 21.80%. The firm's revenue was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. Research analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Samsara

A number of large investors have recently made changes to their positions in IOT. NewEdge Advisors LLC increased its stake in shares of Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after acquiring an additional 414 shares during the last quarter. Keystone Financial Group Inc. grew its stake in Samsara by 300.0% in the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock valued at $25,000 after purchasing an additional 450 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in Samsara in the 4th quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Samsara in the 1st quarter worth about $31,000. Finally, IFP Advisors Inc raised its stake in shares of Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

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.