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 stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $47.09, for a total value of $4,520,640.00. Following the transaction, the chief executive officer now owns 483,886 shares of the company’s stock, valued at $22,786,191.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 value of $2,972,780.79.
• On Tuesday, October 8th, Sanjit Biswas sold 54,492 shares of Samsara stock. The stock was sold at an average price of $47.80, for a total value of $2,604,717.60.
• On Tuesday, October 1st, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $46.83, for a total value of $4,495,680.00.
• On Tuesday, September 24th, Sanjit Biswas sold 74,667 shares of Samsara stock. The shares were sold at an average price of $49.44, for a total value of $3,691,536.48.
• On Tuesday, September 17th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were 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 shares were 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 stock was sold at an average price of $41.94, for a total value 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 value 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 value of $3,019,315.60.

Samsara Stock Up 2.1 %

Shares of IOT traded up $1.00 during trading hours on Thursday, hitting $48.27. 1,568,535 shares of the company were exchanged, compared to its average volume of 3,657,129. The company has a market cap of $26.59 billion, a price-to-earnings ratio of -96.76 and a beta of 1.52. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $51.53. The firm’s fifty day moving average is $45.58 and its 200 day moving average is $38.89.

Samsara (NYSE:IOT) last released 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. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS. Analysts anticipate that Samsara Inc. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Samsara

Several large investors have recently bought and sold shares of IOT. Vanguard Group Inc. raised its position in Samsara by 6.4% in the fourth quarter. Vanguard Group Inc. now owns 15,260,007 shares of the company’s stock valued at $509,379,000 after purchasing an additional 917,389 shares during the last quarter. RFG Advisory LLC increased its position in shares of Samsara by 28.3% during the first quarter. RFG Advisory LLC now owns 8,824 shares of the company’s stock worth $333,000 after buying an additional 1,946 shares during the period. Harbour Capital Advisors LLC bought a new position in Samsara during the first quarter worth $301,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Samsara in the first quarter valued at $13,590,000. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Samsara during the first quarter valued at $143,000. 89.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IOT. BMO Capital Markets raised their target price on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Evercore ISI boosted their price objective on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their price objective on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley upped their price target on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Samsara presently has a consensus rating of “Hold” and an average price target of $43.31.

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.