Samsara Inc. (NYSE:IOT) CEO Sanjit Biswas Sells 96,000 Shares

Samsara Inc. (NYSE:IOT) CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $46.69, for a total value of $4,482,240.00. Following the completion of the sale, the chief executive officer now owns 867,886 shares in the company, valued at $40,521,597.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 transaction 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 transaction 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 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 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 transaction 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 transaction of $2,249,211.60.
• On Tuesday, July 9th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $34.76, for a total value of $3,336,960.00.
• On Monday, July 1st, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $34.23, for a total value of $3,286,080.00.

Samsara Stock Performance

Shares of NYSE IOT remained flat at $47.55 during mid-day trading on Wednesday. 5,080,445 shares of the company traded hands, compared to its average volume of 3,787,144. The business’s 50-day moving average price is $39.68 and its 200 day moving average price is $36.73. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $48.11. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of -95.18 and a beta of 1.50.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company’s revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.11) EPS. On average, sell-side analysts predict that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. grew its position in shares of Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after acquiring an additional 2,797,326 shares during the period. Vanguard Group Inc. boosted its holdings in Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after acquiring an additional 1,841,149 shares in the last quarter. 1832 Asset Management L.P. increased its position in Samsara by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after purchasing an additional 500,400 shares during the period. Finally, Westfield Capital Management Co. LP raised its holdings in Samsara by 12.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after purchasing an additional 243,170 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on IOT shares. Loop Capital upped their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. BMO Capital Markets increased their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Evercore ISI raised their price objective on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. TD Cowen upped their target price on shares of Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company raised their price target on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

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.