Insider Selling: Samsara Inc. (NYSE:IOT) Director Sells 22,500 Shares of Stock

Samsara Inc. (NYSE:IOT) Director Jonathan Chadwick sold 22,500 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $39.07, for a total value of $879,075.00. Following the completion of the transaction, the director now directly owns 37,494 shares of the company’s stock, valued at approximately $1,464,890.58. The trade was a 37.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Samsara Stock Performance

IOT opened at $39.26 on Friday. Samsara Inc. has a 52-week low of $28.69 and a 52-week high of $61.90. The firm has a market capitalization of $22.35 billion, a PE ratio of -178.44 and a beta of 1.74. The business’s 50-day simple moving average is $42.41 and its 200 day simple moving average is $44.45.

Samsara (NYSE:IOT) last released its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The business had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. Samsara’s revenue was up 30.7% on a year-over-year basis. On average, research analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IOT shares. Craig Hallum reissued a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Royal Bank Of Canada decreased their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Morgan Stanley decreased their target price on Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen cut Samsara from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Wells Fargo & Company boosted their target price on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Institutional Trading of Samsara

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in Samsara by 26.0% during the first quarter. Rhumbline Advisers now owns 46,249 shares of the company’s stock worth $1,773,000 after acquiring an additional 9,552 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in Samsara by 47.6% during the first quarter. IFM Investors Pty Ltd now owns 49,509 shares of the company’s stock worth $1,898,000 after acquiring an additional 15,958 shares in the last quarter. SCS Capital Management LLC bought a new stake in Samsara during the first quarter worth about $571,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Samsara by 58.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,823,484 shares of the company’s stock worth $108,224,000 after acquiring an additional 1,047,068 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Samsara by 3.4% during the first quarter. Empowered Funds LLC now owns 10,168 shares of the company’s stock worth $390,000 after acquiring an additional 335 shares in the last quarter. Institutional investors 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.