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 stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the sale, the chief executive officer now owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, June 11th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $29.78, for a total transaction of $2,858,880.00.
• On Tuesday, June 4th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $33.44, for a total transaction of $3,210,240.00.
• On Tuesday, May 28th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $37.81, for a total transaction of $3,629,760.00.
• On Thursday, May 23rd, Sanjit Biswas sold 7,674 shares of Samsara stock. The stock was sold at an average price of $40.16, for a total transaction of $308,187.84.
• On Tuesday, May 21st, Sanjit Biswas sold 35,320 shares of Samsara stock. The stock was sold at an average price of $40.90, for a total transaction of $1,444,588.00.
• On Tuesday, May 14th, Sanjit Biswas sold 88,056 shares of Samsara stock. The stock was sold at an average price of $39.89, for a total transaction of $3,512,553.84.
• On Tuesday, May 7th, Sanjit Biswas sold 71,266 shares of Samsara stock. The stock was sold at an average price of $38.17, for a total transaction of $2,720,223.22.
• On Tuesday, April 30th, Sanjit Biswas sold 91,954 shares of Samsara stock. The shares were sold at an average price of $35.61, for a total transaction of $3,274,481.94.
• On Tuesday, April 23rd, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $33.16, for a total transaction of $3,183,360.00.
• On Tuesday, April 16th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $30.73, for a total transaction of $2,950,080.00.

Samsara Trading Up 4.4 %

Shares of IOT traded up $1.32 during trading hours on Wednesday, hitting $31.16. 4,540,539 shares of the stock were exchanged, compared to its average volume of 3,879,102. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $42.28. The business has a 50-day moving average of $34.91 and a 200-day moving average of $34.30.

Institutional Trading of Samsara

A number of large investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC bought a new position in shares of Samsara in the third quarter valued at approximately $862,000. PNC Financial Services Group Inc. lifted its position in Samsara by 43.3% during the third quarter. PNC Financial Services Group Inc. now owns 17,150 shares of the company’s stock valued at $432,000 after purchasing an additional 5,180 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Samsara by 25.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,613,516 shares of the company’s stock worth $40,677,000 after acquiring an additional 327,030 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Samsara by 82.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 832,350 shares of the company’s stock worth $20,984,000 after acquiring an additional 375,017 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in shares of Samsara in the third quarter worth $28,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Evercore ISI decreased their price objective 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. Bank of America initiated coverage on shares of Samsara in a report on Thursday, June 20th. They set a “buy” rating and a $37.00 price objective for the company. Loop Capital initiated coverage on shares of Samsara in a research report on Thursday, April 18th. They issued a “buy” rating and a $42.00 price objective on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $40.00 price target on shares of Samsara in a research report on Tuesday, June 11th. Finally, StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Samsara currently has an average rating of “Moderate Buy” and a consensus price target of $36.55.

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.