Sanjit Biswas Sells 73,398 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) insider Sanjit Biswas sold 73,398 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $41.30, for a total value of $3,031,337.40. Following the completion of the sale, the insider now owns 96,000 shares of the company’s stock, valued at approximately $3,964,800. This trade represents a 43.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Sanjit Biswas also recently made the following trade(s):

• On Thursday, May 8th, Sanjit Biswas sold 21,735 shares of Samsara stock. The shares were sold at an average price of $42.98, for a total transaction of $934,170.30.
• On Tuesday, April 22nd, Sanjit Biswas sold 160,000 shares of Samsara stock. The shares were sold at an average price of $34.97, for a total transaction of $5,595,200.00.
• On Tuesday, April 8th, Sanjit Biswas sold 160,000 shares of Samsara stock. The shares were sold at an average price of $34.89, for a total value of $5,582,400.00.
• On Tuesday, March 25th, Sanjit Biswas sold 94,020 shares of Samsara stock. The shares were sold at an average price of $42.68, for a total value of $4,012,773.60.
• On Tuesday, March 4th, Sanjit Biswas sold 145,392 shares of Samsara stock. The shares were sold at an average price of $44.27, for a total value of $6,436,503.84.
• On Tuesday, February 25th, Sanjit Biswas sold 118,589 shares of Samsara stock. The shares were sold at an average price of $49.15, for a total transaction of $5,828,649.35.
• On Thursday, February 13th, Sanjit Biswas sold 13,086 shares of Samsara stock. The stock was sold at an average price of $55.75, for a total transaction of $729,544.50.
• On Tuesday, February 11th, Sanjit Biswas sold 85,291 shares of Samsara stock. The stock was sold at an average price of $55.30, for a total value of $4,716,592.30.

Samsara Price Performance

Samsara stock opened at $43.31 on Friday. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The stock has a market capitalization of $24.66 billion, a PE ratio of -92.15 and a beta of 1.70. The firm has a 50 day simple moving average of $38.66 and a 200-day simple moving average of $45.85.

Analyst Ratings Changes

IOT has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Samsara from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler dropped their target price on shares of Samsara from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada decreased their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Craig Hallum reiterated a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Finally, Raymond James initiated coverage on Samsara in a report on Wednesday, February 26th. They set a “market perform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Samsara currently has an average rating of “Moderate Buy” and a consensus price target of $48.87.

Hedge Funds Weigh In On Samsara

Several hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Samsara during the fourth quarter valued at about $431,000. Charles Schwab Investment Management Inc. boosted its position in shares of Samsara by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock valued at $82,004,000 after purchasing an additional 47,911 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Samsara by 101.4% in the 4th quarter. Wells Fargo & Company MN now owns 129,176 shares of the company’s stock worth $5,644,000 after purchasing an additional 65,028 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Samsara by 30.4% during the fourth quarter. Renaissance Technologies LLC now owns 764,300 shares of the company’s stock valued at $33,392,000 after purchasing an additional 178,102 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Samsara by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after buying an additional 863,197 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

About Samsara

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.