Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 10,451 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 10,451 shares of Samsara stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $41.23, for a total value of $430,894.73. Following the completion of the sale, the insider now owns 395,646 shares in the company, valued at approximately $16,312,484.58. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Adam Eltoukhy also recently made the following trade(s):

• On Thursday, March 20th, Adam Eltoukhy sold 11,343 shares of Samsara stock. The stock was sold at an average price of $39.76, for a total value of $450,997.68.

Samsara Trading Down 3.8%

Samsara stock opened at $39.14 on Friday. The business’s fifty day simple moving average is $42.29 and its two-hundred day simple moving average is $44.90. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of -83.28 and a beta of 1.74.

Samsara (NYSE:IOT) last released its earnings results on Thursday, June 5th. The company reported $0.11 EPS 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 business had revenue of $366.88 million for the quarter, compared to the consensus estimate of $351.44 million. During the same period in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 30.7% compared to the same quarter last year. On average, equities research analysts predict that Samsara Inc. will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Samsara

Hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. bought a new stake in Samsara in the fourth quarter worth $431,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 during the last quarter. Wells Fargo & Company MN raised its stake in shares of 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 during the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of 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 during the last quarter. 96.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IOT shares. Wall Street Zen lowered Samsara from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Morgan Stanley dropped their price target 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 dropped their price target on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Craig Hallum restated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Finally, BMO Capital Markets lifted their price target on Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, June 2nd. Nine equities research 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 currently has an average 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.