Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $5,352,000.00 in Stock

Samsara Inc. (NYSE:IOT) insider John Bicket sold 96,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $55.75, for a total value of $5,352,000.00. Following the completion of the transaction, the insider now directly owns 931,400 shares in the company, valued at approximately $51,925,550. The trade was a 9.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

John Bicket also recently made the following trade(s):

• On Tuesday, December 3rd, John Bicket sold 83,091 shares of Samsara stock. The shares were sold at an average price of $53.81, for a total value of $4,471,126.71.
• On Monday, November 25th, John Bicket sold 75,600 shares of Samsara stock. The stock was sold at an average price of $55.89, for a total value of $4,225,284.00.
• On Tuesday, November 5th, John Bicket sold 64,137 shares of Samsara stock. The shares were sold at an average price of $47.48, for a total value of $3,045,224.76.
• On Tuesday, October 29th, John Bicket sold 42,942 shares of Samsara stock. The stock was sold at an average price of $48.55, for a total transaction of $2,084,834.10.
• On Tuesday, October 8th, John Bicket sold 54,504 shares of Samsara stock. The stock was sold at an average price of $47.80, for a total transaction of $2,605,291.20.

Samsara Stock Down 5.2 %

IOT opened at $52.27 on Friday. The company has a market cap of $29.08 billion, a price-to-earnings ratio of -111.21 and a beta of 1.53. The firm’s fifty day simple moving average is $50.44 and its two-hundred day simple moving average is $42.40. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $57.51.

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

Hedge Funds Weigh In On Samsara

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara during the third quarter worth approximately $34,000. Continuum Advisory LLC grew its holdings in shares of Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares in the last quarter. Resources Management Corp CT ADV raised its position in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Samsara by 69.1% in the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in Samsara during the second quarter worth about $38,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Wall Street Analyst Weigh In

IOT has been the topic of several recent research reports. TD Cowen upped their price target on shares of Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Loop Capital raised their target price on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America boosted 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. JPMorgan Chase & Co. raised their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Evercore ISI boosted their target price on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Samsara currently has a consensus rating of “Hold” and a consensus price target of $51.29.

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.