Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $730,992.03 in Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 18,643 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $39.21, for a total transaction of $730,992.03. Following the transaction, the insider now owns 358,720 shares of the company’s stock, valued at approximately $14,065,411.20. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, June 10th, Adam Eltoukhy sold 10,451 shares of Samsara stock. The shares were sold at an average price of $41.23, for a total transaction of $430,894.73.
• On Thursday, March 20th, Adam Eltoukhy sold 11,343 shares of Samsara stock. The shares were sold at an average price of $39.76, for a total transaction of $450,997.68.

Samsara Stock Up 1.5%

Shares of Samsara stock opened at $39.26 on Friday. The stock has a market capitalization of $22.35 billion, a P/E ratio of -178.44 and a beta of 1.74. The company has a 50-day simple moving average of $42.41 and a 200 day simple moving average of $44.45. Samsara Inc. has a 12-month low of $28.69 and a 12-month high of $61.90.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The firm 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 firm earned $0.03 EPS. The company’s revenue was up 30.7% on a year-over-year basis. On average, equities analysts anticipate that Samsara Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IOT. BMO Capital Markets increased their price objective on shares of Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, June 2nd. Raymond James Financial began coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Wells Fargo & Company increased their price objective on shares of Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Truist Financial dropped their price objective on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Finally, Craig Hallum restated a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Institutional Investors Weigh In On Samsara

A number of hedge funds have recently added to or reduced their stakes in IOT. NewEdge Advisors LLC boosted its stake in shares of 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 purchasing an additional 414 shares during the last quarter. Keystone Financial Group Inc. lifted its stake in Samsara by 300.0% in the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company’s stock valued at $25,000 after buying an additional 450 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Samsara in the fourth quarter valued at approximately $31,000. IFP Advisors Inc lifted 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 buying an additional 598 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Samsara in the first quarter valued at approximately $31,000. Institutional investors own 96.02% of the company’s stock.

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.