Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $236,878.40 in Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 5,008 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.30, for a total transaction of $236,878.40. Following the completion of the sale, the insider now directly owns 455,797 shares in the company, valued at approximately $21,559,198.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Friday, September 6th, Adam Eltoukhy sold 12,500 shares of Samsara stock. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00.
• On Monday, July 15th, Adam Eltoukhy sold 9,471 shares of Samsara stock. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09.

Samsara Stock Performance

Shares of IOT stock opened at $47.44 on Friday. The firm’s 50 day moving average price is $39.21 and its two-hundred day moving average price is $36.51. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $47.68. The stock has a market cap of $26.13 billion, a PE ratio of -94.88 and a beta of 1.50.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm’s revenue was up 36.9% on a year-over-year basis. During the same period last year, the company earned ($0.11) EPS. As a group, sell-side analysts predict that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently modified their holdings of the stock. Resources Management Corp CT ADV boosted its stake in Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares during the last quarter. Quarry LP bought a new stake in Samsara in the fourth quarter valued at approximately $37,000. National Bank of Canada FI acquired a new stake in Samsara in the second quarter worth $38,000. Nemes Rush Group LLC bought a new position in shares of Samsara during the second quarter worth $45,000. Finally, Tradition Wealth Management LLC acquired a new position in shares of Samsara in the 4th quarter valued at $46,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Bank of America raised their price target on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. BMO Capital Markets raised their target price on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Loop Capital lifted their price target on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Piper Sandler increased their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company boosted their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.07.

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.