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

Posted by Kim Johansen on Oct 5th, 2024

Samsara Inc. (NYSE:IOT – Get Free Report) CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $46.83, for a total transaction of $4,495,680.00. Following the sale, the chief executive officer now directly owns 57,600 shares in the company, valued at $2,697,408. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

On Tuesday, September 24th, Sanjit Biswas sold 74,667 shares of Samsara stock. The stock was sold at an average price of $49.44, for a total transaction of $3,691,536.48.
On Tuesday, September 17th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $46.69, for a total value of $4,482,240.00.
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 value 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 stock was 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 stock was sold at an average price of $37.04, for a total transaction 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 transaction of $2,415,576.10.
On Tuesday, July 23rd, Sanjit Biswas sold 84,150 shares of Samsara stock. The stock was sold at an average price of $38.06, for a total value of $3,202,749.00.
On Tuesday, July 16th, Sanjit Biswas sold 59,112 shares of Samsara stock. The shares were sold at an average price of $38.05, for a total value of $2,249,211.60.

Samsara Price Performance

IOT stock opened at $47.61 on Friday. The company has a market cap of $26.22 billion, a P/E ratio of -95.21 and a beta of 1.52. Samsara Inc. has a 1 year low of $21.48 and a 1 year high of $50.07. The stock’s fifty day moving average price is $42.58 and its 200-day moving average price is $37.76.

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

Institutional Trading of Samsara

Several large investors have recently added to or reduced their stakes in IOT. Resources Management Corp CT ADV raised its position in Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares during the period. Quarry LP purchased a new stake in shares of Samsara in the 4th quarter worth $37,000. National Bank of Canada FI bought a new position in Samsara in the 2nd quarter worth $38,000. Nemes Rush Group LLC bought a new position in Samsara in the 2nd quarter worth $45,000. Finally, UniSuper Management Pty Ltd purchased a new position in Samsara during the first quarter valued at $94,000. 89.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IOT shares. Morgan Stanley increased their target price on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Truist Financial raised their price objective on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Loop Capital lifted their target price on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Wolfe Research reiterated an “outperform” rating and set a $44.00 price target on shares of Samsara in a report on Friday, June 28th. Finally, TD Cowen boosted their price objective on shares of Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Samsara has an average rating of “Hold” and an average price target of $42.07.

Check Out Our Latest Report on IOT

Samsara Company Profile

(Get Free Report)

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.