Insider Selling: Samsara Inc. (NYSE:IOT) Director Sells $568,067.24 in Stock

Samsara Inc. (NYSE:IOT) Director Jonathan Chadwick sold 12,206 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $46.54, for a total transaction of $568,067.24. Following the sale, the director now directly owns 418,579 shares of the company’s stock, valued at approximately $19,480,666.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Samsara Price Performance

Shares of NYSE:IOT opened at $49.42 on Friday. The stock has a market cap of $27.22 billion, a price-to-earnings ratio of -98.84 and a beta of 1.50. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $49.56. The stock’s 50 day moving average price is $40.39 and its 200 day moving average price is $36.97.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $289.53 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. The company’s revenue was up 36.9% on a year-over-year basis. On average, sell-side analysts expect that Samsara Inc. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Samsara

Hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. boosted its holdings in Samsara by 18.1% during the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after acquiring an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after acquiring an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after acquiring an additional 1,841,149 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Samsara during the second quarter worth $29,464,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler upped their target price on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Loop Capital increased their target price on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Morgan Stanley boosted their price target 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. Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a report on Friday, June 28th. Finally, Wells Fargo & Company boosted their target price on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research note 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.