Samsara Inc. (NYSE:IOT) Insider Sells $390,917.91 in Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 10,083 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $38.77, for a total transaction of $390,917.91. Following the sale, the insider directly owned 358,720 shares of the company’s stock, valued at approximately $13,907,574.40. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Adam Eltoukhy also recently made the following trade(s):

• On Friday, June 27th, Adam Eltoukhy sold 10,083 shares of Samsara stock. The stock was sold at an average price of $39.89, for a total value of $402,210.87.
• On Monday, June 16th, Adam Eltoukhy sold 18,643 shares of Samsara stock. The stock was sold at an average price of $39.21, for a total transaction of $730,992.03.
• On Tuesday, June 10th, Adam Eltoukhy sold 10,451 shares of Samsara stock. The stock was sold at an average price of $41.23, for a total value of $430,894.73.

Samsara Price Performance

IOT opened at $38.58 on Thursday. Samsara Inc. has a 1-year low of $31.40 and a 1-year high of $61.90. The company has a 50 day simple moving average of $41.67 and a two-hundred day simple moving average of $43.21. The firm has a market cap of $21.97 billion, a P/E ratio of -175.38 and a beta of 1.63.

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

Institutional Investors Weigh In On Samsara

Several institutional investors and hedge funds have recently added to or reduced their stakes in IOT. Jennison Associates LLC increased its stake in shares of Samsara by 1,881.8% during the first quarter. Jennison Associates LLC now owns 11,763,133 shares of the company’s stock worth $450,881,000 after buying an additional 11,169,571 shares during the period. FMR LLC raised its position in Samsara by 24.0% in the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after acquiring an additional 2,852,575 shares in the last quarter. Vanguard Group Inc. raised its position in Samsara by 12.0% in the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company’s stock worth $900,581,000 after acquiring an additional 2,516,882 shares in the last quarter. Norges Bank purchased a new stake in Samsara during the 4th quarter worth about $106,274,000. Finally, Baillie Gifford & Co. increased its position in Samsara by 7.1% during the 1st quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company’s stock worth $1,352,186,000 after purchasing an additional 2,348,101 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IOT shares. Morgan Stanley decreased their price target on Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler set a $53.00 price objective on Samsara and gave the stock an “overweight” rating in a report on Wednesday, June 25th. Wall Street Zen downgraded Samsara from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Wells Fargo & Company upped their price target on Samsara from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Finally, Evercore ISI set a $45.00 price objective on Samsara in a research note on Wednesday, June 25th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Samsara presently has an average rating of “Hold” and an average price target of $50.64.

About Samsara

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.