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 business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.83, for a total transaction of $4,495,680.00. Following the completion of the transaction, the chief executive officer now owns 57,600 shares of the company’s stock, valued at approximately $2,697,408. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, September 24th, Sanjit Biswas sold 74,667 shares of Samsara stock. The stock was sold at an average price of $49.44, for a total transaction of $3,691,536.48.
• On Tuesday, September 17th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $46.69, for a total transaction of $4,482,240.00.
• On Tuesday, September 10th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was 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 stock was sold at an average price of $41.94, for a total transaction 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 transaction 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 shares were 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.

Samsara Price Performance

Samsara stock traded down $1.08 during mid-day trading on Wednesday, reaching $45.66. The company had a trading volume of 3,380,594 shares, compared to its average volume of 3,778,664. Samsara Inc. has a 1 year low of $21.48 and a 1 year high of $50.07. The company has a market capitalization of $25.15 billion, a P/E ratio of -93.46 and a beta of 1.50. The stock’s 50-day simple moving average is $42.00 and its 200-day simple moving average is $37.57.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same period last year, the company posted ($0.11) earnings per share. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, equities analysts forecast that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. BMO Capital Markets upped their price objective 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. Morgan Stanley upped their target price on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Truist Financial upped their target price on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. TD Cowen upped their target price on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Bank of America upped their target price on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.07.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IOT. Norges Bank purchased a new position in Samsara in the fourth quarter valued at about $11,693,000. Seven Eight Capital LP acquired a new stake in shares of Samsara in the fourth quarter valued at approximately $4,225,000. Elevate Wealth Advisory Inc. acquired a new stake in shares of Samsara in the fourth quarter valued at approximately $441,000. Symmetry Investments LP acquired a new stake in shares of Samsara in the fourth quarter valued at approximately $690,000. Finally, Point72 Europe London LLP acquired a new stake in shares of Samsara in the fourth quarter valued at approximately $2,025,000. 89.39% of the stock is 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.