Sanjit Biswas Sells 96,000 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.83, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, September 24th, Sanjit Biswas sold 74,667 shares of Samsara stock. The shares were 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 shares were 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 shares were 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 stock was 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 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 stock was 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 stock was sold at an average price of $38.05, for a total transaction of $2,249,211.60.

Samsara Price Performance

Shares of NYSE:IOT opened at $45.73 on Friday. The stock’s 50-day moving average is $42.38 and its 200 day moving average is $37.69. The company has a market cap of $25.19 billion, a PE ratio of -91.46 and a beta of 1.52. Samsara Inc. has a 1 year low of $21.48 and a 1 year high of $50.07.

Samsara (NYSE:IOT) last announced its earnings results 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 company had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. Analysts expect that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on IOT. BMO Capital Markets raised their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen boosted their price objective on shares of Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Bank of America increased 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.07.

Institutional Investors Weigh In On Samsara

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Samsara in the fourth quarter worth about $11,693,000. Seven Eight Capital LP bought a new stake in shares of Samsara during the fourth quarter valued at approximately $4,225,000. Elevate Wealth Advisory Inc. purchased a new stake in Samsara in the fourth quarter worth $441,000. Symmetry Investments LP bought a new position in Samsara in the fourth quarter worth $690,000. Finally, Point72 Europe London LLP purchased a new position in Samsara during the fourth quarter valued at $2,025,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

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.