Insider Selling: Samsara Inc. (NYSE:IOT) CEO Sells 96,000 Shares of Stock

Samsara Inc. (NYSE:IOT) CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $46.69, for a total value of $4,482,240.00. Following the completion of the transaction, the chief executive officer now owns 867,886 shares of the company’s stock, valued at $40,521,597.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, September 10th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $46.88, for a total value of $4,500,480.00.
• On Tuesday, September 3rd, Sanjit Biswas sold 93,107 shares of Samsara stock. The stock was sold at an average price of $39.92, for a total transaction of $3,716,831.44.
• On Tuesday, August 27th, Sanjit Biswas sold 84,030 shares of Samsara stock. The shares were sold at an average price of $41.94, for a total transaction of $3,524,218.20.
• On Tuesday, August 20th, Sanjit Biswas sold 78,295 shares of Samsara stock. The shares were sold at an average price of $40.50, for a total transaction of $3,170,947.50.
• On Tuesday, August 6th, Sanjit Biswas sold 81,515 shares of Samsara stock. The shares were sold at an average price of $37.04, for a total value of $3,019,315.60.
• On Tuesday, July 30th, Sanjit Biswas sold 65,605 shares of Samsara stock. The shares were sold at an average price of $36.82, for a total value of $2,415,576.10.
• On Tuesday, July 23rd, Sanjit Biswas sold 84,150 shares of Samsara stock. The shares were sold at an average price of $38.06, for a total transaction of $3,202,749.00.
• On Tuesday, July 16th, Sanjit Biswas sold 59,112 shares of Samsara stock. The stock was sold at an average price of $38.05, for a total transaction of $2,249,211.60.
• On Tuesday, July 9th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $34.76, for a total transaction of $3,336,960.00.
• On Monday, July 1st, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $34.23, for a total transaction of $3,286,080.00.

Samsara Price Performance

NYSE IOT remained flat at $47.55 on Wednesday. The company had a trading volume of 5,080,445 shares, compared to its average volume of 3,787,144. The business has a 50-day moving average price of $39.68 and a two-hundred day moving average price of $36.73. Samsara Inc. has a twelve month low of $21.48 and a twelve month high of $48.11. The stock has a market capitalization of $26.19 billion, a PE ratio of -95.18 and a beta of 1.50.

Samsara (NYSE:IOT) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $289.53 million. During the same quarter last year, the business posted ($0.11) EPS. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. Sell-side analysts predict that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Samsara

A number of hedge funds have recently bought and sold shares of IOT. Resources Management Corp CT ADV increased its position in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the last quarter. Quarry LP bought a new position in shares of Samsara during the 4th quarter valued at approximately $37,000. National Bank of Canada FI purchased a new stake in shares of Samsara during the 2nd quarter worth approximately $38,000. Nemes Rush Group LLC bought a new stake in shares of Samsara in the 2nd quarter worth approximately $45,000. Finally, Tradition Wealth Management LLC purchased a new position in Samsara in the fourth quarter valued at approximately $46,000. 89.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wolfe Research reissued an “outperform” rating and set a $44.00 price target on shares of Samsara in a report on Friday, June 28th. BMO Capital Markets boosted their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Piper Sandler raised their price target on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Truist Financial lifted their target price on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Finally, TD Cowen raised their price target on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara presently has an average rating of “Moderate Buy” and an average price target of $42.07.

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.