Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $5,828,649.35 in Stock

Samsara Inc. (NYSE:IOT) insider Sanjit Biswas sold 118,589 shares of Samsara stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $49.15, for a total value of $5,828,649.35. Following the completion of the sale, the insider now owns 126,000 shares in the company, valued at approximately $6,192,900. This trade represents a 48.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sanjit Biswas also recently made the following trade(s):

• On Thursday, February 13th, Sanjit Biswas sold 13,086 shares of Samsara stock. The shares were sold at an average price of $55.75, for a total value of $729,544.50.
• On Tuesday, February 11th, Sanjit Biswas sold 85,291 shares of Samsara stock. The shares were sold at an average price of $55.30, for a total value of $4,716,592.30.
• On Tuesday, January 21st, Sanjit Biswas sold 73,762 shares of Samsara stock. The shares were sold at an average price of $47.08, for a total value of $3,472,714.96.
• On Friday, January 17th, Sanjit Biswas sold 72,077 shares of Samsara stock. The shares were sold at an average price of $46.40, for a total value of $3,344,372.80.
• On Wednesday, January 15th, Sanjit Biswas sold 170,416 shares of Samsara stock. The shares were sold at an average price of $45.30, for a total value of $7,719,844.80.
• On Monday, January 13th, Sanjit Biswas sold 56,474 shares of Samsara stock. The stock was sold at an average price of $43.33, for a total value of $2,447,018.42.
• On Friday, January 10th, Sanjit Biswas sold 81,163 shares of Samsara stock. The stock was sold at an average price of $43.39, for a total value of $3,521,662.57.
• On Wednesday, January 8th, Sanjit Biswas sold 85,063 shares of Samsara stock. The stock was sold at an average price of $43.84, for a total value of $3,729,161.92.
• On Monday, January 6th, Sanjit Biswas sold 59,114 shares of Samsara stock. The stock was sold at an average price of $45.25, for a total value of $2,674,908.50.
• On Thursday, December 26th, Sanjit Biswas sold 48,884 shares of Samsara stock. The stock was sold at an average price of $45.36, for a total value of $2,217,378.24.

Samsara Trading Up 0.7 %

Samsara stock opened at $47.68 on Friday. The firm has a market capitalization of $26.76 billion, a P/E ratio of -101.45 and a beta of 1.61. The stock has a fifty day moving average price of $49.34 and a 200 day moving average price of $48.23. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently added to or reduced their stakes in IOT. International Assets Investment Management LLC grew its position in Samsara by 2,787.2% during the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after acquiring an additional 10,452 shares during the period. Assenagon Asset Management S.A. grew its position in Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after acquiring an additional 304 shares during the period. abrdn plc purchased a new stake in Samsara during the third quarter valued at about $207,000. Avitas Wealth Management LLC purchased a new stake in Samsara during the third quarter valued at about $245,000. Finally, AustralianSuper Pty Ltd grew its position in Samsara by 97.5% during the third quarter. AustralianSuper Pty Ltd now owns 27,533 shares of the company’s stock valued at $1,325,000 after acquiring an additional 13,590 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on IOT. Raymond James began coverage on Samsara in a research report on Wednesday. They set a “market perform” rating on the stock. Berenberg Bank began coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price on the stock. Morgan Stanley boosted their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. BMO Capital Markets boosted their price target on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada boosted their price target on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.67.

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.