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 that occurred on Monday, July 1st. The stock was sold at an average price of $34.23, for a total value of $3,286,080.00. Following the sale, the chief executive officer now owns 115,200 shares in the company, valued at $3,943,296. 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, June 25th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00.
• On Tuesday, June 11th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $29.78, for a total value of $2,858,880.00.
• On Tuesday, June 4th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $33.44, for a total transaction of $3,210,240.00.
• On Tuesday, May 28th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $37.81, for a total transaction of $3,629,760.00.
• On Thursday, May 23rd, Sanjit Biswas sold 7,674 shares of Samsara stock. The shares were sold at an average price of $40.16, for a total transaction of $308,187.84.
• On Tuesday, May 21st, Sanjit Biswas sold 35,320 shares of Samsara stock. The stock was sold at an average price of $40.90, for a total value of $1,444,588.00.
• On Tuesday, May 14th, Sanjit Biswas sold 88,056 shares of Samsara stock. The shares were sold at an average price of $39.89, for a total value of $3,512,553.84.
• On Tuesday, May 7th, Sanjit Biswas sold 71,266 shares of Samsara stock. The stock was sold at an average price of $38.17, for a total value of $2,720,223.22.
• On Tuesday, April 30th, Sanjit Biswas sold 91,954 shares of Samsara stock. The shares were sold at an average price of $35.61, for a total value of $3,274,481.94.
• On Tuesday, April 23rd, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $33.16, for a total transaction of $3,183,360.00.

Samsara Stock Up 0.5 %

Shares of Samsara stock traded up $0.19 during trading on Wednesday, hitting $35.66. The stock had a trading volume of 1,537,408 shares, compared to its average volume of 3,933,810. Samsara Inc. has a 1 year low of $21.48 and a 1 year high of $42.28. The stock has a 50 day simple moving average of $35.13 and a 200 day simple moving average of $34.26. The company has a market capitalization of $19.64 billion, a PE ratio of -71.34 and a beta of 1.49.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $280.73 million for the quarter, compared to analysts’ expectations of $272.51 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. As a group, equities analysts expect that Samsara Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating and issued a $40.00 price target on shares of Samsara in a research note on Tuesday, June 11th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Evercore ISI lowered their price target on Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a research report on Friday, June 7th. Bank of America assumed coverage on Samsara in a research note on Thursday, June 20th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $36.00 target price on shares of Samsara in a research note on Friday, June 28th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.17.

Institutional Investors Weigh In On Samsara

Hedge funds have recently bought and sold shares of the business. Gotham Asset Management LLC lifted its position in shares of Samsara by 11.4% in the third quarter. Gotham Asset Management LLC now owns 105,844 shares of the company’s stock worth $2,668,000 after purchasing an additional 10,808 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Samsara by 10.4% during the 3rd quarter. Lazard Asset Management LLC now owns 30,350 shares of the company’s stock valued at $765,000 after buying an additional 2,868 shares during the period. Spouting Rock Asset Management LLC grew its holdings in shares of Samsara by 13.0% during the 3rd quarter. Spouting Rock Asset Management LLC now owns 18,609 shares of the company’s stock valued at $469,000 after acquiring an additional 2,144 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Samsara in the third quarter worth $202,000. Finally, Creative Planning acquired a new position in shares of Samsara in the third quarter worth $5,878,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

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.