Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 9,059 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 9,059 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $41.23, for a total value of $373,502.57. Following the completion of the transaction, the insider now directly owns 887,493 shares of the company’s stock, valued at approximately $36,591,336.39. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Dominic Phillips also recently made the following trade(s):

• On Friday, June 6th, Dominic Phillips sold 20,534 shares of Samsara stock. The shares were sold at an average price of $44.89, for a total value of $921,771.26.
• On Thursday, May 1st, Dominic Phillips sold 20,534 shares of Samsara stock. The shares were sold at an average price of $40.40, for a total value of $829,573.60.
• On Tuesday, April 1st, Dominic Phillips sold 21,157 shares of Samsara stock. The shares were sold at an average price of $38.37, for a total value of $811,794.09.
• On Monday, March 17th, Dominic Phillips sold 54,134 shares of Samsara stock. The shares were sold at an average price of $38.60, for a total value of $2,089,572.40.

Samsara Stock Performance

Shares of NYSE IOT opened at $39.14 on Friday. The business’s 50 day moving average price is $42.29 and its 200-day moving average price is $44.96. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The company has a market cap of $22.28 billion, a price-to-earnings ratio of -83.28 and a beta of 1.74.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. Samsara had a negative return on equity of 19.44% and a negative net margin of 21.80%. The firm had revenue of $366.88 million for the quarter, compared to the consensus estimate of $351.44 million. During the same period in the prior year, the business posted $0.03 earnings per share. The company’s revenue for the quarter was up 30.7% on a year-over-year basis. Sell-side analysts predict that Samsara Inc. will post -0.3 earnings per share for the current year.

Institutional Investors Weigh In On Samsara

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in shares of Samsara in the fourth quarter worth approximately $431,000. Charles Schwab Investment Management Inc. grew its stake in Samsara by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock worth $82,004,000 after purchasing an additional 47,911 shares in the last quarter. Wells Fargo & Company MN grew its stake in Samsara by 101.4% in the fourth 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 in the last quarter. Renaissance Technologies LLC grew its stake in Samsara by 30.4% in the fourth quarter. Renaissance Technologies LLC now owns 764,300 shares of the company’s stock worth $33,392,000 after purchasing an additional 178,102 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Samsara by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after purchasing an additional 863,197 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IOT has been the subject of a number of research reports. BMO Capital Markets increased their price target on Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, June 2nd. Morgan Stanley decreased their price objective on Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Truist Financial decreased their price objective on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Wall Street Zen downgraded Samsara from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Royal Bank of Canada decreased their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.00.

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.