Dominic Phillips Sells 64,629 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 64,629 shares of Samsara stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.95, for a total value of $2,969,702.55. Following the sale, the insider now owns 755,001 shares in the company, valued at $34,692,295.95. The trade was a 7.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dominic Phillips also recently made the following trade(s):

• On Monday, December 9th, Dominic Phillips sold 20,136 shares of Samsara stock. The stock was sold at an average price of $50.45, for a total transaction of $1,015,861.20.
• On Friday, November 1st, Dominic Phillips sold 20,137 shares of Samsara stock. The shares were sold at an average price of $46.39, for a total transaction of $934,155.43.
• On Tuesday, October 1st, Dominic Phillips sold 20,747 shares of Samsara stock. The stock was sold at an average price of $46.79, for a total transaction of $970,752.13.

Samsara Trading Down 2.2 %

Samsara stock opened at $42.67 on Friday. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $57.51. The firm has a market capitalization of $23.74 billion, a PE ratio of -90.79 and a beta of 1.53. The firm’s 50 day simple moving average is $50.19 and its 200 day simple moving average is $42.89.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IOT shares. TD Cowen raised their target price on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Bank of America lifted their price objective on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Morgan Stanley upped their price objective on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Evercore ISI lifted their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Finally, Wells Fargo & Company upped their price target on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.29.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC boosted its stake in Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock valued at $90,026,000 after buying an additional 1,777,757 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Samsara in the 3rd quarter valued at about $10,868,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Samsara during the 3rd quarter valued at about $546,000. Virtu Financial LLC purchased a new position in shares of Samsara during the third quarter worth about $1,689,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Samsara in the third quarter worth approximately $34,000. 96.02% of the stock is currently 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.