Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $3,505,471.02 in Stock

Samsara Inc. (NYSE:IOT) insider John Bicket sold 83,583 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total value of $3,505,471.02. Following the completion of the sale, the insider now owns 1,172,457 shares of the company’s stock, valued at approximately $49,172,846.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

John Bicket also recently made the following trade(s):

• On Tuesday, August 20th, John Bicket sold 78,128 shares of Samsara stock. The shares were sold at an average price of $40.51, for a total value of $3,164,965.28.
• On Tuesday, August 6th, John Bicket sold 81,486 shares of Samsara stock. The stock was sold at an average price of $37.04, for a total value of $3,018,241.44.
• On Tuesday, July 30th, John Bicket sold 65,632 shares of Samsara stock. The shares were sold at an average price of $36.82, for a total transaction of $2,416,570.24.
• On Tuesday, July 23rd, John Bicket sold 82,925 shares of Samsara stock. The stock was sold at an average price of $38.08, for a total transaction of $3,157,784.00.
• On Wednesday, July 17th, John Bicket sold 36,358 shares of Samsara stock. The shares were sold at an average price of $37.23, for a total transaction of $1,353,608.34.

Samsara Stock Up 1.1 %

Shares of NYSE:IOT opened at $41.05 on Friday. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $42.49. The firm has a market cap of $22.61 billion, a P/E ratio of -82.10 and a beta of 1.49. The company’s 50-day moving average price is $37.22 and its two-hundred day moving average price is $35.82.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The business had revenue of $280.73 million during the quarter, compared to analyst estimates of $272.51 million. As a group, equities analysts predict that Samsara Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Samsara

A number of institutional investors and hedge funds have recently made changes to their positions in IOT. Resources Management Corp CT ADV boosted its holdings in Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after acquiring an additional 490 shares during the last quarter. Quarry LP bought a new position in shares of Samsara in the 4th quarter valued at about $37,000. National Bank of Canada FI acquired a new stake in shares of Samsara during the 2nd quarter worth approximately $38,000. Montag A & Associates Inc. raised its stake in shares of Samsara by 1,200.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after buying an additional 1,200 shares during the last quarter. Finally, Nemes Rush Group LLC acquired a new position in Samsara in the second quarter valued at approximately $45,000. Institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

IOT has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $40.00 price objective on shares of Samsara in a report on Tuesday, June 11th. Bank of America boosted their price target on Samsara from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of Samsara in a research report on Wednesday, June 26th. Loop Capital reissued a “buy” rating and set a $42.00 price objective on shares of Samsara in a report on Friday, June 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $36.00 target price on shares of Samsara in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.83.

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.