Sanjit Biswas Sells 42,526 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) insider Sanjit Biswas sold 42,526 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $46.23, for a total value of $1,965,976.98. Following the completion of the sale, the insider now owns 858,789 shares in the company, valued at $39,701,815.47. This trade represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, May 21st, Sanjit Biswas sold 63,017 shares of Samsara stock. The shares were sold at an average price of $46.54, for a total value of $2,932,811.18.
• On Tuesday, May 20th, Sanjit Biswas sold 54,457 shares of Samsara stock. The stock was sold at an average price of $47.33, for a total value of $2,577,449.81.
• On Thursday, May 8th, Sanjit Biswas sold 21,735 shares of Samsara stock. The stock was sold at an average price of $42.98, for a total value of $934,170.30.
• On Tuesday, May 6th, Sanjit Biswas sold 73,398 shares of Samsara stock. The shares were sold at an average price of $41.30, for a total value of $3,031,337.40.
• 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 value 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 value of $5,828,649.35.

Samsara Stock Performance

Shares of Samsara stock opened at $46.14 on Friday. The business’s 50 day simple moving average is $40.22 and its 200 day simple moving average is $45.79. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The firm has a market cap of $26.27 billion, a PE ratio of -98.17 and a beta of 1.70.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley cut their target price on Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Cowen reissued a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Royal Bank of Canada cut their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Wall Street Zen raised Samsara from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Piper Sandler reissued an “overweight” rating and issued a $53.00 target price (up previously from $44.00) on shares of Samsara in a research note on Wednesday, May 14th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.47.

Institutional Investors Weigh In On Samsara

A number of hedge funds and other institutional investors have recently bought and sold shares of IOT. NewEdge Advisors LLC raised its position in Samsara by 262.0% in the 4th 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 last quarter. Keystone Financial Group Inc. raised its position in Samsara by 300.0% in the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company’s stock valued at $25,000 after buying an additional 450 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Samsara in the fourth quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Samsara in the first quarter valued at approximately $31,000. Finally, IFP Advisors Inc grew its stake in Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds 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.