Insider Selling: Samsara Inc. (NYSE:IOT) Major Shareholder Sells $10,015,310.89 in Stock

Samsara Inc. (NYSE:IOT) major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Samsara Stock Up 2.1 %

Shares of IOT opened at $37.91 on Friday. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The firm has a market cap of $21.28 billion, a price-to-earnings ratio of -80.67 and a beta of 1.63. The business’s 50 day moving average is $48.26 and its two-hundred day moving average is $48.10.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. 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 report on Friday, March 7th. BMO Capital Markets raised shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Monday. Piper Sandler upgraded shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price on the stock in a report on Monday, March 10th. Morgan Stanley increased their price target on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

Institutional Trading of Samsara

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of Samsara by 4.7% in the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after purchasing an additional 95,006 shares during the last quarter. HighTower Advisors LLC increased its holdings in Samsara by 193.4% in the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after buying an additional 40,833 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Samsara during the fourth quarter valued at approximately $431,000. Charles Schwab Investment Management Inc. lifted its holdings in Samsara by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock worth $82,004,000 after buying an additional 47,911 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Samsara by 3.1% in the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after acquiring an additional 18,400 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

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.