Samsara (NYSE:IOT) Trading Down 2.5% Following Insider Selling

Shares of Samsara Inc. (NYSE:IOT) traded down 2.5% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $49.00 and last traded at $49.01. 169,764 shares were traded during trading, a decline of 95% from the average session volume of 3,699,990 shares. The stock had previously closed at $50.27.

Specifically, insider Adam Eltoukhy sold 9,308 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total transaction of $471,357.12. Following the transaction, the insider now owns 396,784 shares in the company, valued at $20,093,141.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. Following the transaction, the insider now owns 396,784 shares in the company, valued at approximately $19,839,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In other news, insider John Bicket sold 54,504 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $47.80, for a total transaction of $2,605,291.20. Following the transaction, the insider now owns 997,116 shares in the company, valued at $47,662,144.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Bank of America upped their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. StockNews.com downgraded shares of Samsara from a “hold” rating to a “sell” rating in a report on Friday, October 11th. BMO Capital Markets increased their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Truist Financial increased their price target on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price target on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of “Hold” and a consensus price target of $43.00.

Samsara Trading Down 0.6 %

The stock has a market cap of $27.09 billion, a PE ratio of -98.36 and a beta of 1.52. The business has a 50-day moving average price of $44.84 and a 200-day moving average price of $38.49.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in IOT. Resources Management Corp CT ADV lifted its holdings in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares in the last quarter. National Bank of Canada FI purchased a new position in Samsara in the 2nd quarter valued at $38,000. Nemes Rush Group LLC purchased a new position in Samsara in the 2nd quarter valued at $45,000. UMB Bank n.a. lifted its holdings in Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after purchasing an additional 418 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 89.39% 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.