Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 8,500 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 8,500 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.01, for a total value of $425,085.00. Following the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at $19,843,167.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Adam Eltoukhy also recently made the following trade(s):

• On Tuesday, September 10th, Adam Eltoukhy sold 5,008 shares of Samsara stock. The shares were sold at an average price of $47.30, for a total transaction of $236,878.40.
• On Friday, September 6th, Adam Eltoukhy sold 12,500 shares of Samsara stock. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00.
• On Monday, July 15th, Adam Eltoukhy sold 9,471 shares of Samsara stock. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09.

Samsara Stock Down 1.7 %

Shares of NYSE:IOT traded down $0.85 on Thursday, hitting $48.54. 2,425,441 shares of the company traded hands, compared to its average volume of 3,786,890. The company has a market cap of $27.00 billion, a PE ratio of -98.76 and a beta of 1.50. The stock has a 50 day simple moving average of $41.10 and a 200-day simple moving average of $37.29. Samsara Inc. has a 52 week low of $21.48 and a 52 week high of $50.07.

Samsara (NYSE:IOT) last issued 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. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on IOT shares. Royal Bank of Canada increased their target price on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Piper Sandler raised their price objective on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research report 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 report on Friday, September 6th. BMO Capital Markets raised their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Finally, StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.07.

Institutional Trading of Samsara

Institutional investors have recently added to or reduced their stakes in the business. Resources Management Corp CT ADV raised its stake in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the last quarter. Quarry LP purchased a new position in Samsara in the 4th quarter worth about $37,000. National Bank of Canada FI bought a new position in Samsara during the 2nd quarter valued at about $38,000. Nemes Rush Group LLC bought a new position in shares of Samsara during the 2nd quarter valued at $45,000. Finally, Tradition Wealth Management LLC purchased a new position in shares of Samsara in the 4th quarter worth $46,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

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.