Insider Selling: Samsara Inc. (NYSE:IOT) CEO Sells 48,923 Shares of Stock

Samsara Inc. (NYSE:IOT – Get Rating) CEO Sanjit Biswas sold 48,923 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $12.35, for a total value of $604,199.05. Following the completion of the sale, the chief executive officer now owns 91,438 shares of the company’s stock, valued at approximately $1,129,259.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Sanjit Biswas also recently made the following trade(s):

• On Thursday, January 19th, Sanjit Biswas sold 17,336 shares of Samsara stock. The shares were sold at an average price of $12.38, for a total value of $214,619.68.
• On Thursday, January 12th, Sanjit Biswas sold 23,095 shares of Samsara stock. The shares were sold at an average price of $11.42, for a total transaction of $263,744.90.
• On Tuesday, January 10th, Sanjit Biswas sold 23,866 shares of Samsara stock. The shares were sold at an average price of $11.45, for a total transaction of $273,265.70.

Samsara Stock Up 2.0 %

Shares of NYSE IOT opened at $12.51 on Friday. The company has a market cap of $6.49 billion and a PE ratio of -11.80. The firm’s 50-day moving average price is $11.52 and its 200-day moving average price is $12.68. Samsara Inc. has a 52-week low of $8.42 and a 52-week high of $25.42.

Samsara (NYSE:IOT – Get Rating) last issued its quarterly earnings data on Thursday, December 1st. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.03. The company had revenue of $169.80 million during the quarter, compared to analyst estimates of $155.64 million. Samsara had a negative return on equity of 21.98% and a negative net margin of 75.47%. As a group, equities research analysts anticipate that Samsara Inc. will post -0.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IOT. Royal Bank of Canada decreased their target price on Samsara from $19.00 to $14.00 and set an “outperform” rating for the company in a research report on Monday, November 28th. Morgan Stanley dropped their target price on shares of Samsara from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, November 22nd. Evercore ISI lowered their price target on shares of Samsara to $15.00 in a research report on Friday, December 2nd. Finally, StockNews.com began coverage on Samsara in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Samsara presently has an average rating of “Moderate Buy” and a consensus price target of $21.38.

Institutional Investors Weigh In On Samsara

A number of hedge funds have recently modified their holdings of IOT. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Samsara during the second quarter valued at $33,000. TFC Financial Management purchased a new stake in Samsara in the 3rd quarter worth approximately $36,000. IFP Advisors Inc purchased a new stake in Samsara in the 3rd quarter worth approximately $44,000. BNP Paribas Arbitrage SNC bought a new position in shares of Samsara in the third quarter worth approximately $45,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Samsara during the 3rd quarter valued at $51,000. Institutional investors own 43.05% of the company’s stock.

Samsara Company Profile

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Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.