Insider Selling: Samsara Inc. (NYSE:IOT) Director Sells $2,548,069.92 in Stock

Samsara Inc. (NYSE:IOT) Director Hemant Taneja sold 68,904 shares of Samsara stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $36.98, for a total transaction of $2,548,069.92. The sale was disclosed in a document filed with the SEC, which is available at this link.

Samsara Stock Performance

Shares of IOT opened at $37.79 on Friday. The firm has a market cap of $20.41 billion, a price-to-earnings ratio of -71.30 and a beta of 1.55. Samsara Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $40.54. The firm has a 50 day moving average price of $34.50 and a 200-day moving average price of $30.44.

Institutional Investors Weigh In On Samsara

A number of hedge funds have recently made changes to their positions in IOT. Vanguard Group Inc. lifted its holdings in shares of Samsara by 84.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,636,709 shares of the company’s stock worth $92,175,000 after acquiring an additional 3,495,366 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Samsara by 19.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,841,815 shares of the company’s stock worth $495,421,000 after acquiring an additional 2,425,103 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Samsara by 188.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 3,318,500 shares of the company’s stock worth $91,956,000 after acquiring an additional 2,166,500 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in Samsara during the 2nd quarter valued at $52,707,000. Finally, PointState Capital LP raised its holdings in Samsara by 62.7% during the 1st quarter. PointState Capital LP now owns 3,641,355 shares of the company’s stock valued at $58,335,000 after buying an additional 1,402,994 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on IOT shares. Wells Fargo & Company lifted their price objective on shares of Samsara from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, December 1st. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Piper Sandler lifted their target price on shares of Samsara from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. boosted their price objective on shares of Samsara from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, December 1st. Finally, BMO Capital Markets boosted their price objective on shares of Samsara from $28.00 to $32.00 and gave the company a “market perform” rating in a research note on Friday, December 1st. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara presently has a consensus rating of “Hold” and a consensus price target of $31.56.

About Samsara

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.