Insider Selling: Samsara Inc. (NYSE:IOT) Director Sells 22,500 Shares of Stock

Samsara Inc. (NYSE:IOT) Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $45.37, for a total value of $1,020,825.00. Following the completion of the sale, the director now directly owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. This represents a 5.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Samsara Stock Down 1.1 %

NYSE IOT traded down $0.51 during trading on Monday, hitting $43.91. The stock had a trading volume of 2,038,922 shares, compared to its average volume of 3,579,317. The company has a market capitalization of $24.64 billion, a PE ratio of -93.43 and a beta of 1.53. The firm has a 50 day moving average price of $49.61 and a 200 day moving average price of $43.60. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $57.51.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in Samsara by 4.7% during the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after purchasing an additional 95,006 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Samsara by 193.4% during the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock worth $2,981,000 after buying an additional 40,833 shares during the period. Swiss National Bank raised its holdings in Samsara by 3.1% in the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after acquiring an additional 18,400 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after acquiring an additional 10,452 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Samsara during the 2nd quarter worth approximately $537,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IOT. Wells Fargo & Company raised their target price on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. BNP Paribas began coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price objective for the company. Piper Sandler increased their price target on shares of Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Craig Hallum assumed coverage on shares of Samsara in a research report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target on the stock. Finally, BMO Capital Markets upped their price objective on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Samsara presently has a consensus rating of “Hold” and a consensus price target of $51.29.

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.