Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 9,043 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 9,043 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total value of $487,236.84. Following the transaction, the insider now owns 331,106 shares in the company, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, December 20th, Adam Eltoukhy sold 23,960 shares of Samsara stock. The stock was sold at an average price of $43.81, for a total value of $1,049,687.60.

Samsara Stock Performance

Shares of IOT traded down $2.23 during midday trading on Monday, hitting $50.59. 4,024,936 shares of the stock were exchanged, compared to its average volume of 2,928,962. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The stock has a fifty day simple moving average of $48.92 and a 200 day simple moving average of $47.93. The firm has a market cap of $28.39 billion, a P/E ratio of -107.64 and a beta of 1.61.

Analysts Set New Price Targets

Several brokerages have issued reports on IOT. Royal Bank of Canada upped their target price on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their target price on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Loop Capital increased their price target 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, Truist Financial lifted their price target on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $51.67.

Hedge Funds Weigh In On Samsara

Several hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. increased its stake in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares during the period. Vanguard Group Inc. increased its stake in Samsara by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after buying an additional 863,197 shares during the period. FMR LLC lifted its holdings in Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after buying an additional 2,852,575 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after buying an additional 2,148,081 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Samsara by 4.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after buying an additional 138,702 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

About Samsara

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.