Samsara (NYSE:IOT) Stock Price Down 2.6% Following Insider Selling

Shares of Samsara Inc. (NYSE:IOT) were down 2.6% on Friday after an insider sold shares in the company. The company traded as low as $38.32 and last traded at $38.43. Approximately 379,124 shares changed hands during trading, a decline of 89% from the average daily volume of 3,431,480 shares. The stock had previously closed at $39.47.

Specifically, insider Adam Eltoukhy sold 72,300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $38.71, for a total value of $2,798,733.00. Following the sale, the insider now directly owns 194,735 shares in the company, valued at approximately $7,538,191.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Adam Eltoukhy sold 72,300 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $38.71, for a total transaction of $2,798,733.00. Following the transaction, the insider now directly owns 194,735 shares in the company, valued at approximately $7,538,191.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $30.73, for a total transaction of $2,950,080.00. Following the transaction, the chief executive officer now owns 1,115,921 shares in the company, valued at $34,292,252.33. The disclosure for this sale can be found here. Insiders have sold a total of 1,837,779 shares of company stock worth $66,507,854 in the last 90 days. 66.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Samsara from a “hold” rating to a “sell” rating in a research note on Friday, May 17th. Loop Capital began coverage on shares of Samsara in a research report on Thursday, April 18th. They issued a “buy” rating and a $42.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $32.60.

Samsara Price Performance

The firm has a market capitalization of $21.67 billion, a PE ratio of -74.28 and a beta of 1.58. The company’s fifty day simple moving average is $36.34 and its 200-day simple moving average is $33.64.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $276.27 million for the quarter, compared to the consensus estimate of $258.56 million. Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. Analysts forecast that Samsara Inc. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Samsara

Several hedge funds and other institutional investors have recently modified their holdings of IOT. Advisors Asset Management Inc. raised its stake in Samsara by 9.4% during the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after purchasing an additional 280 shares during the period. Janney Capital Management LLC increased its position in shares of Samsara by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock valued at $345,000 after acquiring an additional 311 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Samsara by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after acquiring an additional 381 shares during the last quarter. Cetera Advisors LLC increased its position in shares of Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after acquiring an additional 497 shares during the last quarter. Finally, Ulland Investment Advisors LLC grew its holdings in shares of Samsara by 33.6% in the first quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock valued at $75,000 after purchasing an additional 500 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

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.