Insider Selling: Samsara Inc. (NYSE:IOT) Major Shareholder Sells 330,538 Shares of Stock

Samsara Inc. (NYSE:IOT) major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Samsara Trading Up 0.5 %

NYSE IOT opened at $46.27 on Friday. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $47.68. The stock has a 50 day simple moving average of $39.00 and a two-hundred day simple moving average of $36.41.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS. On average, sell-side analysts expect that Samsara Inc. will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Samsara by 9.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock valued at $32,360,000 after buying an additional 79,773 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Samsara by 9.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 15,104 shares of the company’s stock worth $504,000 after acquiring an additional 1,340 shares in the last quarter. Janney Capital Management LLC grew its holdings in Samsara by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock worth $345,000 after purchasing an additional 311 shares during the period. Baader Bank Aktiengesellschaft bought a new position in shares of Samsara during the fourth quarter valued at approximately $227,000. Finally, Norges Bank purchased a new position in shares of Samsara during the fourth quarter valued at approximately $11,693,000. Institutional investors own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IOT. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. BMO Capital Markets raised their price objective on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a report on Friday, September 6th. TD Cowen increased their price target on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada boosted their price objective on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Finally, Morgan Stanley increased their target price on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.