Sanjit Biswas Sells 23,605 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider Sanjit Biswas sold 23,605 shares of the company's stock in a transaction that occurred on 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 in the company, valued at approximately $33,940,373.82. This represents a 3.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 shares were sold at an average price of $46.54, for a total value 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 value of $934,170.30.
• On Tuesday, May 6th, Sanjit Biswas sold 73,398 shares of Samsara stock. The shares were sold at an average price of $41.30, for a total value of $3,031,337.40.
• On Tuesday, April 22nd, Sanjit Biswas sold 160,000 shares of Samsara stock. The stock was sold at an average price of $34.97, for a total value of $5,595,200.00.
• On Tuesday, April 8th, Sanjit Biswas sold 160,000 shares of Samsara stock. The shares were sold at an average price of $34.89, for a total value of $5,582,400.00.
• On Tuesday, March 25th, Sanjit Biswas sold 94,020 shares of Samsara stock. The shares were sold at an average price of $42.68, for a total transaction of $4,012,773.60.

Samsara Stock Down 3.7%

NYSE:IOT traded down $1.73 during trading hours on Friday, reaching $45.52. The company had a trading volume of 9,980,876 shares, compared to its average volume of 3,776,688. The firm has a market capitalization of $25.91 billion, a PE ratio of -96.76 and a beta of 1.74. The stock has a 50-day moving average of $41.45 and a two-hundred day moving average of $45.47. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90.

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

Analysts Set New Price Targets

IOT has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Truist Financial lowered their target price on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. BMO Capital Markets upped their price objective on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday. Cowen reiterated a "buy" rating on shares of Samsara in a report on Friday, March 7th. Finally, Raymond James assumed coverage on Samsara in a research report on Wednesday, February 26th. They issued a "market perform" rating on the stock. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.00.

Institutional Trading of Samsara

A number of institutional investors have recently modified their holdings of IOT. NewEdge Advisors LLC raised its holdings in Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after acquiring an additional 414 shares during the period. Keystone Financial Group Inc. lifted its holdings in shares of Samsara by 300.0% during the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock worth $25,000 after purchasing an additional 450 shares during the period. Jones Financial Companies Lllp bought a new position in Samsara during the 4th quarter worth approximately $31,000. IFP Advisors Inc lifted its stake in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock valued at $35,000 after purchasing an additional 598 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Samsara during the 1st quarter valued at $31,000. 96.02% of the stock is currently owned by institutional investors.

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.