Hemant Taneja Sells 68,904 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) Director Hemant Taneja sold 68,904 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $36.98, for a total value of $2,548,069.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Samsara Stock Performance

Shares of IOT opened at $38.39 on Thursday. The stock’s 50-day simple moving average is $34.38 and its 200 day simple moving average is $30.39. The stock has a market capitalization of $20.74 billion, a price-to-earnings ratio of -72.43 and a beta of 1.55. Samsara Inc. has a 52-week low of $16.63 and a 52-week high of $40.54.

Wall Street Analysts Forecast Growth

IOT has been the subject of several recent research reports. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. upped their price target on Samsara from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, December 1st. BMO Capital Markets upped their price target on Samsara from $28.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, December 1st. Piper Sandler upped their price target on Samsara from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, December 1st. Finally, Morgan Stanley boosted their price objective on Samsara from $25.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday, December 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.56.

Institutional Trading of Samsara

A number of institutional investors have recently added to or reduced their stakes in IOT. Vanguard Group Inc. lifted its holdings in Samsara by 84.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,636,709 shares of the company’s stock worth $92,175,000 after purchasing an additional 3,495,366 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Samsara by 19.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,841,815 shares of the company’s stock worth $495,421,000 after acquiring an additional 2,425,103 shares during the last quarter. 1832 Asset Management L.P. increased its stake in Samsara by 188.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 3,318,500 shares of the company’s stock worth $91,956,000 after acquiring an additional 2,166,500 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in Samsara in the 2nd quarter worth about $52,707,000. Finally, PointState Capital LP increased its stake in Samsara by 62.7% in the 1st quarter. PointState Capital LP now owns 3,641,355 shares of the company’s stock worth $58,335,000 after acquiring an additional 1,402,994 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

About Samsara

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.