Insider Selling: Samsara Inc. (NYSE:IOT) CAO Sells 1,093 Shares of Stock

Samsara Inc. (NYSE:IOT) CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares in the company, valued at $15,123,445.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Samsara Price Performance

IOT stock traded down $1.26 during trading on Wednesday, reaching $46.03. 10,485,346 shares of the stock traded hands, compared to its average volume of 3,747,288. The business’s 50 day moving average price is $38.58 and its 200-day moving average price is $36.28. The firm has a market capitalization of $25.35 billion, a PE ratio of -88.98 and a beta of 1.50. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $47.68.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.58%. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the prior year, the company earned ($0.11) EPS. The company’s revenue was up 36.9% on a year-over-year basis. On average, equities research analysts predict that Samsara Inc. will post -0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

IOT has been the topic of a number of research reports. Piper Sandler upped their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Loop Capital upped their target price on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their price target on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. TD Cowen increased their price objective on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Hedge Funds Weigh In On Samsara

A number of hedge funds have recently made changes to their positions in the business. Resources Management Corp CT ADV increased its holdings in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares in the last quarter. Quarry LP purchased a new stake in shares of Samsara in the fourth quarter worth about $37,000. National Bank of Canada FI acquired a new stake in shares of Samsara in the second quarter valued at about $38,000. Nemes Rush Group LLC purchased a new stake in shares of Samsara during the 2nd quarter valued at about $45,000. Finally, Tradition Wealth Management LLC acquired a new position in Samsara during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 89.39% 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.