Samsara (NYSE:IOT) Trading Down 4.1% Following Insider Selling

Shares of Samsara Inc. (NYSE:IOT – Get Rating) fell 4.1% on Thursday after an insider sold shares in the company. The company traded as low as $18.54 and last traded at $18.94. 3,740,418 shares were traded during mid-day trading, an increase of 51% from the average session volume of 2,470,157 shares. The stock had previously closed at $19.75.

Specifically, Director Hemant Taneja sold 3,000,000 shares of Samsara stock in a transaction on Monday, March 13th. The shares were sold at an average price of $18.86, for a total transaction of $56,580,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Hemant Taneja sold 3,000,000 shares of Samsara stock in a transaction on Monday, March 13th. The shares were sold at an average price of $18.86, for a total transaction of $56,580,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjit Biswas sold 23,866 shares of Samsara stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $11.45, for a total transaction of $273,265.70. Following the sale, the chief executive officer now directly owns 91,438 shares of the company’s stock, valued at $1,046,965.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,942,786 shares of company stock valued at $87,282,325.

Wall Street Analyst Weigh In

Several analysts have weighed in on IOT shares. JPMorgan Chase & Co. boosted their price target on shares of Samsara from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, March 3rd. Piper Sandler started coverage on shares of Samsara in a research note on Wednesday. They issued a “neutral” rating and a $21.00 price target for the company. Evercore ISI lowered their price target on shares of Samsara to $15.00 in a research note on Friday, December 2nd. Morgan Stanley boosted their price target on shares of Samsara from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, March 3rd. Finally, The Goldman Sachs Group raised shares of Samsara from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $16.00 to $27.00 in a research note on Friday, March 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.90.

Samsara Stock Performance

The stock has a market capitalization of $10.10 billion, a P/E ratio of -40.56 and a beta of 0.92. The stock has a 50-day moving average price of $15.41 and a two-hundred day moving average price of $13.03.

Samsara (NYSE:IOT – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The firm had revenue of $186.58 million for the quarter, compared to analyst estimates of $172.77 million. Samsara had a negative return on equity of 21.12% and a negative net margin of 37.92%. Equities analysts anticipate that Samsara Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Samsara

Large investors have recently made changes to their positions in the business. IFP Advisors Inc bought a new stake in shares of Samsara in the 3rd quarter worth approximately $44,000. State of Wyoming bought a new stake in shares of Samsara in the 4th quarter worth approximately $27,000. Macquarie Group Ltd. grew its position in shares of Samsara by 37.3% in the 4th quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock worth $30,000 after buying an additional 649 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Samsara in the 2nd quarter worth approximately $33,000. Finally, TFC Financial Management bought a new stake in shares of Samsara during the third quarter valued at approximately $36,000. 43.05% of the stock is currently owned by institutional investors.

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.