Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $348,521.36 in Stock

Samsara Inc. (NYSE:IOT) insider Lara Caimi sold 7,508 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the sale, the insider now owns 1,093,535 shares in the company, valued at $50,761,894.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Samsara Price Performance

Shares of NYSE:IOT opened at $47.44 on Monday. The firm has a market capitalization of $26.13 billion, a PE ratio of -94.88 and a beta of 1.50. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $47.68. The business has a 50-day moving average of $39.21 and a two-hundred day moving average of $36.55.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same quarter last year, the firm posted ($0.11) earnings per share. Samsara’s revenue for the quarter was up 36.9% compared to the same quarter last year. As a group, research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of Samsara

A number of institutional investors have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. raised its position in Samsara by 18.1% in the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after purchasing an additional 4,207,974 shares during the period. 1832 Asset Management L.P. lifted its position in Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after acquiring an additional 3,853,400 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Samsara by 18.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after acquiring an additional 2,797,326 shares during the period. Vanguard Group Inc. grew its position in Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after acquiring an additional 1,841,149 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Samsara during the second quarter worth $29,464,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IOT. Wells Fargo & Company upped their target price on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Royal Bank of Canada upped their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. TD Cowen lifted their target price on shares of Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Truist Financial increased their price target on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, Bank of America lifted their price objective on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Samsara currently has an average rating of “Moderate Buy” and an average target price of $42.07.

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.