Adam Eltoukhy Sells 11,343 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 11,343 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $39.76, for a total transaction of $450,997.68. Following the sale, the insider now directly owns 271,922 shares in the company, valued at $10,811,618.72. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, March 10th, Adam Eltoukhy sold 3,903 shares of Samsara stock. The shares were sold at an average price of $34.07, for a total value of $132,975.21.
• On Friday, March 7th, Adam Eltoukhy sold 31,042 shares of Samsara stock. The stock was sold at an average price of $35.89, for a total value of $1,114,097.38.
• On Thursday, February 20th, Adam Eltoukhy sold 9,043 shares of Samsara stock. The shares were sold at an average price of $53.88, for a total value of $487,236.84.

Samsara Price Performance

Shares of NYSE IOT opened at $42.54 on Wednesday. The stock has a market capitalization of $23.87 billion, a P/E ratio of -90.51 and a beta of 1.63. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90. The firm’s 50 day simple moving average is $47.74 and its two-hundred day simple moving average is $48.17.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on IOT shares. Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price objective for the company in a research note on Monday, March 10th. Truist Financial cut their price target on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a report on Friday, March 7th. Royal Bank of Canada lowered their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Raymond James initiated coverage on Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating for the company. Finally, BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.60.

Hedge Funds Weigh In On Samsara

Several institutional investors and hedge funds have recently made changes to their positions in IOT. NewEdge Advisors LLC boosted its position in Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 414 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Samsara in the fourth quarter worth about $31,000. Hobbs Group Advisors LLC purchased a new stake in Samsara during the 3rd quarter valued at about $34,000. IFP Advisors Inc boosted its holdings in Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after acquiring an additional 598 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in Samsara during the 4th quarter worth approximately $38,000. Institutional investors own 96.02% of the company’s stock.

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.