Samsara Inc. (NYSE:IOT) Insider Dominic Phillips Sells 66,642 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 66,642 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.88, for a total transaction of $3,057,534.96. Following the transaction, the insider now directly owns 882,664 shares of the company’s stock, valued at $40,496,624.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Dominic Phillips also recently made the following trade(s):

• On Thursday, August 1st, Dominic Phillips sold 20,491 shares of Samsara stock. The shares were sold at an average price of $36.91, for a total value of $756,322.81.
• On Monday, July 1st, Dominic Phillips sold 21,112 shares of Samsara stock. The stock was sold at an average price of $34.42, for a total value of $726,675.04.

Samsara Stock Performance

Shares of NYSE:IOT opened at $47.56 on Thursday. The company has a market capitalization of $26.20 billion, a PE ratio of -95.12 and a beta of 1.50. The stock has a fifty day moving average of $39.93 and a 200-day moving average of $36.80. Samsara Inc. has a one year low of $21.48 and a one year high of $48.11.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million during 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 revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) EPS. As a group, research analysts forecast that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Samsara

Large investors have recently made changes to their positions in the company. Cim LLC purchased a new position in Samsara during the 2nd quarter worth approximately $1,049,000. Nemes Rush Group LLC purchased a new position in shares of Samsara during the second quarter valued at $45,000. Creative Planning grew its holdings in shares of Samsara by 16.1% during the second quarter. Creative Planning now owns 147,457 shares of the company’s stock valued at $4,969,000 after buying an additional 20,482 shares in the last quarter. MBB Public Markets I LLC raised its position in Samsara by 107.9% during the second quarter. MBB Public Markets I LLC now owns 13,266 shares of the company’s stock valued at $447,000 after buying an additional 6,885 shares during the period. Finally, APG Asset Management N.V. acquired a new stake in Samsara during the 2nd quarter worth about $745,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Piper Sandler boosted their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Wells Fargo & Company raised their target price on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Bank of America upped their price target on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley raised their price objective on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Samsara has an average rating of “Moderate Buy” and an average 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.