Insider Selling: Samsara Inc. (NYSE:IOT) CEO Sells $3,691,536.48 in Stock

Samsara Inc. (NYSE:IOT) CEO Sanjit Biswas sold 74,667 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $49.44, for a total value of $3,691,536.48. Following the completion of the sale, the chief executive officer now owns 793,219 shares of the company’s stock, valued at approximately $39,216,747.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, September 17th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were 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 shares were 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 value of $3,524,218.20.
• On Tuesday, August 20th, Sanjit Biswas sold 78,295 shares of Samsara stock. The shares were 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 shares were sold at an average price of $37.04, for a total value of $3,019,315.60.
• On Tuesday, July 30th, Sanjit Biswas sold 65,605 shares of Samsara stock. The stock was sold at an average price of $36.82, for a total value 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.
• 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 transaction of $3,336,960.00.

Samsara Stock Performance

Shares of NYSE:IOT opened at $47.52 on Friday. The business’s fifty day moving average price is $41.60 and its two-hundred day moving average price is $37.42. The stock has a market cap of $26.44 billion, a PE ratio of -95.04 and a beta of 1.50. Samsara Inc. has a one year low of $21.48 and a one year high of $50.07.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same quarter last 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, equities research analysts predict that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Samsara

Institutional investors have recently modified their holdings of the company. Boulder Hill Capital Management LP purchased a new stake in Samsara in the 4th quarter worth approximately $1,115,000. CHURCHILL MANAGEMENT Corp increased its stake in Samsara by 135.6% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock valued at $2,277,000 after purchasing an additional 34,679 shares during the last quarter. Mission Wealth Management LP purchased a new position in Samsara during the first quarter worth about $1,100,000. Quarry LP acquired a new stake in Samsara in the 4th quarter worth about $37,000. Finally, Norges Bank purchased a new stake in Samsara in the 4th quarter valued at about $11,693,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

IOT has been the topic of several recent analyst reports. Truist Financial boosted their target price on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Wolfe Research reiterated an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a research report on Friday, June 28th. Wells Fargo & Company boosted their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Loop Capital increased their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Bank of America boosted their price objective on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $42.07.

Samsara Company Profile

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.