Samsara Inc. (NYSE:IOT) Director Sells $879,075.00 in Stock

Samsara Inc. (NYSE:IOT) Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction on Monday, June 16th. The stock was sold at an average price of $39.07, for a total value of $879,075.00. Following the sale, the director now directly owns 37,494 shares of the company’s stock, valued at approximately $1,464,890.58. This trade represents a 37.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Samsara Stock Up 1.2%

Shares of NYSE:IOT opened at $38.68 on Friday. The firm has a market cap of $22.02 billion, a price-to-earnings ratio of -175.80 and a beta of 1.74. Samsara Inc. has a 12 month low of $28.69 and a 12 month high of $61.90. The company’s fifty day simple moving average is $42.38 and its 200 day simple moving average is $44.55.

Samsara (NYSE:IOT) last released its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The firm had revenue of $366.88 million during the quarter, compared to analysts’ expectations of $351.44 million. During the same quarter in the prior year, the company earned $0.03 EPS. The company’s revenue was up 30.7% on a year-over-year basis. Research analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IOT. Jennison Associates LLC lifted its stake in Samsara by 1,881.8% in the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company’s stock valued at $450,881,000 after acquiring an additional 11,169,571 shares in the last quarter. FMR LLC raised its holdings in shares of Samsara by 24.0% in the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock valued at $644,129,000 after purchasing an additional 2,852,575 shares during the last quarter. Jordan Park Trust Co LLC bought a new stake in shares of Samsara in the fourth quarter worth $112,041,000. Vanguard Group Inc. boosted its holdings in Samsara by 12.0% during the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company’s stock worth $900,581,000 after purchasing an additional 2,516,882 shares during the last quarter. Finally, Norges Bank bought a new position in Samsara in the fourth quarter valued at $106,274,000. 96.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IOT. Wall Street Zen lowered Samsara from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Morgan Stanley cut their price target on shares of Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Cowen reissued a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Raymond James Financial assumed coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Finally, Truist Financial cut their target price on shares of Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.00.

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.