Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 54,134 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 54,134 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.60, for a total value of $2,089,572.40. Following the transaction, the insider now directly owns 638,642 shares in the company, valued at approximately $24,651,581.20. The trade was a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Dominic Phillips also recently made the following trade(s):

• On Monday, February 3rd, Dominic Phillips sold 20,801 shares of Samsara stock. The stock was sold at an average price of $50.97, for a total value of $1,060,226.97.

Samsara Stock Up 4.8 %

Shares of NYSE:IOT traded up $1.83 during trading on Wednesday, reaching $39.94. 5,593,905 shares of the company’s stock traded hands, compared to its average volume of 3,560,132. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The firm has a market cap of $22.41 billion, a PE ratio of -84.98 and a beta of 1.63. The company has a 50-day simple moving average of $48.05 and a 200-day simple moving average of $48.15.

Institutional Trading of Samsara

Several institutional investors have recently bought and sold shares of IOT. Victory Capital Management Inc. grew its stake in Samsara by 12.6% in the 3rd quarter. Victory Capital Management Inc. now owns 67,851 shares of the company’s stock valued at $3,265,000 after acquiring an additional 7,613 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Samsara in the third quarter valued at about $1,180,000. KBC Group NV grew its position in shares of Samsara by 103.9% in the third quarter. KBC Group NV now owns 24,243 shares of the company’s stock valued at $1,167,000 after purchasing an additional 12,356 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of Samsara in the third quarter valued at about $264,000. Finally, Empowered Funds LLC grew its position in shares of Samsara by 55.1% in the third quarter. Empowered Funds LLC now owns 9,750 shares of the company’s stock valued at $469,000 after purchasing an additional 3,463 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IOT has been the topic of several recent analyst reports. Piper Sandler upgraded shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price objective on the stock in a report on Monday, March 10th. Craig Hallum restated a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Royal Bank of Canada cut their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Loop Capital upped their target price on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Finally, BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Monday, March 10th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Samsara currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

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.