Samsara (NYSE:IOT) Sees Large Volume Increase

Samsara Inc. (NYSE:IOT) saw unusually-high trading volume on Tuesday . Approximately 1,530,153 shares traded hands during trading, a decline of 58% from the previous session’s volume of 3,631,814 shares.The stock last traded at $41.68 and had previously closed at $41.55.

Wall Street Analyst Weigh In

IOT has been the subject of several analyst reports. Evercore ISI cut their price target on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a report on Friday, June 7th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $40.00 target price on shares of Samsara in a report on Tuesday, June 11th. Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Samsara in a report on Wednesday, June 26th. Finally, Bank of America assumed coverage on shares of Samsara in a research report on Thursday, June 20th. They issued a “buy” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $37.17.

Samsara Stock Performance

The company has a market cap of $22.72 billion, a price-to-earnings ratio of -82.50 and a beta of 1.49. The stock’s fifty day simple moving average is $36.77 and its two-hundred day simple moving average is $35.74.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $280.73 million for the quarter, compared to analyst estimates of $272.51 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. Analysts predict that Samsara Inc. will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $33.44, for a total value of $3,210,240.00. Following the transaction, the chief executive officer now owns 134,400 shares of the company’s stock, valued at approximately $4,494,336. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Marc L. Andreessen sold 277,484 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.88, for a total value of $8,013,737.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $33.44, for a total transaction of $3,210,240.00. Following the completion of the transaction, the chief executive officer now directly owns 134,400 shares in the company, valued at approximately $4,494,336. The disclosure for this sale can be found here. Insiders have sold a total of 1,711,535 shares of company stock worth $60,251,570 in the last quarter. 60.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Samsara

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Boulder Hill Capital Management LP purchased a new stake in Samsara during the 4th quarter worth $1,115,000. Charles Schwab Investment Management Inc. increased its stake in Samsara by 9.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock worth $32,360,000 after buying an additional 79,773 shares during the period. CHURCHILL MANAGEMENT Corp increased its stake in Samsara by 135.6% during the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after buying an additional 34,679 shares during the period. Mission Wealth Management LP bought a new stake in shares of Samsara in the 1st quarter worth about $1,100,000. Finally, Quarry LP bought a new stake in shares of Samsara in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 89.39% 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.