Samsara Inc. (NYSE:IOT) Insider Sanjit Biswas Sells 59,114 Shares

Samsara Inc. (NYSE:IOT) insider Sanjit Biswas sold 59,114 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.25, for a total transaction of $2,674,908.50. Following the transaction, the insider now owns 196,678 shares in the company, valued at approximately $8,899,679.50. This trade represents a 23.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, December 26th, Sanjit Biswas sold 48,884 shares of Samsara stock. The stock was sold at an average price of $45.36, for a total transaction of $2,217,378.24.
• On Tuesday, December 3rd, Sanjit Biswas sold 83,333 shares of Samsara stock. The stock was sold at an average price of $53.81, for a total transaction of $4,484,148.73.
• On Monday, November 25th, Sanjit Biswas sold 75,594 shares of Samsara stock. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66.
• On Tuesday, November 19th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $50.37, for a total value of $4,835,520.00.
• On Tuesday, November 5th, Sanjit Biswas sold 64,188 shares of Samsara stock. The stock was sold at an average price of $47.48, for a total value of $3,047,646.24.
• On Tuesday, October 29th, Sanjit Biswas sold 42,994 shares of Samsara stock. The stock was sold at an average price of $48.55, for a total transaction of $2,087,358.70.
• On Tuesday, October 22nd, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $47.09, for a total transaction of $4,520,640.00.
• On Tuesday, October 15th, Sanjit Biswas sold 58,739 shares of Samsara stock. The stock was sold at an average price of $50.61, for a total transaction of $2,972,780.79.

Samsara Stock Performance

Shares of IOT traded up $1.28 during mid-day trading on Wednesday, hitting $44.20. 2,773,141 shares of the company were exchanged, compared to its average volume of 2,457,728. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $57.51. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of -94.04 and a beta of 1.59. The company has a 50 day moving average of $49.09 and a 200-day moving average of $44.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, December 6th. BNP Paribas assumed coverage on Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. TD Cowen boosted their price target on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Loop Capital raised their price objective on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Samsara has a consensus rating of “Hold” and an average target price of $51.29.

Hedge Funds Weigh In On Samsara

A number of hedge funds have recently made changes to their positions in IOT. Nordea Investment Management AB increased its position in shares of Samsara by 11.9% during the fourth quarter. Nordea Investment Management AB now owns 16,157 shares of the company’s stock worth $717,000 after purchasing an additional 1,713 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Samsara during the 4th quarter worth $242,000. Lord Abbett & CO. LLC grew its holdings in shares of Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock worth $90,026,000 after buying an additional 1,777,757 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Samsara in the third quarter valued at about $10,868,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Samsara in the third quarter worth about $546,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

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.