Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 11,343 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 11,343 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $39.76, for a total value of $450,997.68. Following the sale, the insider now owns 271,922 shares of the company’s stock, valued at approximately $10,811,618.72. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Adam Eltoukhy also recently made the following trade(s):

• On Monday, March 10th, Adam Eltoukhy sold 3,903 shares of Samsara stock. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21.
• On Friday, March 7th, Adam Eltoukhy sold 31,042 shares of Samsara stock. The stock was sold at an average price of $35.89, for a total transaction of $1,114,097.38.
• On Thursday, February 20th, Adam Eltoukhy sold 9,043 shares of Samsara stock. The shares were sold at an average price of $53.88, for a total value of $487,236.84.

Samsara Stock Performance

IOT traded up $1.94 during trading on Monday, hitting $42.10. The stock had a trading volume of 3,132,284 shares, compared to its average volume of 3,544,671. The stock has a 50 day simple moving average of $47.80 and a two-hundred day simple moving average of $48.16. The company has a market capitalization of $23.62 billion, a PE ratio of -89.57 and a beta of 1.63. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 414 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Samsara in the 4th quarter valued at approximately $31,000. Hobbs Group Advisors LLC purchased a new stake in Samsara during the 3rd quarter worth approximately $34,000. IFP Advisors Inc increased its stake in Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after purchasing an additional 598 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of Samsara in the fourth quarter worth $38,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IOT shares. Berenberg Bank began coverage on shares of Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 target price for the company. Royal Bank of Canada dropped their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Piper Sandler upgraded Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price for the company in a research report on Monday, March 10th. Loop Capital boosted their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised their price objective on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.60.

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.