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

Shares of Samsara Inc. (NYSE:IOT - Get Free Report) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $47.25, but opened at $42.75. Samsara shares last traded at $43.77, with a volume of 3,768,129 shares changing hands.

Specifically, insider John Bicket sold 33,713 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $46.46, for a total value of $1,566,305.98. Following the transaction, the insider now directly owns 30,745 shares of the company's stock, valued at $1,428,412.70. This represents a 52.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Bicket sold 136,287 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $46.03, for a total transaction of $6,273,290.61. Following the completion of the transaction, the insider now owns 64,458 shares in the company, valued at $2,967,001.74. This trade represents a 67.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Samsara news, insider Sanjit Biswas sold 23,605 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $46.38, for a total value of $1,094,799.90. Following the completion of the sale, the insider now owns 731,789 shares of the company's stock, valued at $33,940,373.82. The trade was a 3.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reduced their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Morgan Stanley reduced their price objective on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Craig Hallum reiterated a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Truist Financial cut their target price on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. Finally, Wells Fargo & Company lowered their price objective on Samsara from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Samsara presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.87.

Samsara Stock Performance

The stock has a market cap of $24.92 billion, a PE ratio of -93.37 and a beta of 1.74. The company's 50 day simple moving average is $41.45 and its 200 day simple moving average is $45.47.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $366.88 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 EPS. Equities research analysts expect that Samsara Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of Samsara

Several institutional investors and hedge funds have recently bought and sold shares of IOT. GLOBALT Investments LLC GA increased its position in shares of Samsara by 0.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock worth $2,444,000 after purchasing an additional 182 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management raised its position in shares of Samsara by 0.5% during the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 54,000 shares of the company's stock valued at $2,070,000 after buying an additional 250 shares in the last quarter. Nemes Rush Group LLC raised its position in shares of Samsara by 7.8% during the 1st quarter. Nemes Rush Group LLC now owns 3,597 shares of the company's stock valued at $138,000 after buying an additional 260 shares in the last quarter. Tidal Investments LLC grew its position in Samsara by 4.6% in the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after acquiring an additional 281 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in shares of Samsara by 32.1% during the 4th quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock valued at $51,000 after purchasing an additional 282 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

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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