Insider Selling: Samsara Inc. (NYSE:IOT) Director Sells $8,013,737.92 in Stock

Samsara Inc. (NYSE:IOT) Director Marc L. Andreessen sold 277,484 shares of Samsara stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Samsara Stock Down 1.9 %

Shares of NYSE:IOT opened at $28.07 on Friday. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $42.28. The company has a market cap of $15.45 billion, a PE ratio of -56.14 and a beta of 1.51. The company’s 50-day moving average price is $35.30 and its 200 day moving average price is $34.45.

Analyst Ratings Changes

IOT has been the subject of several research reports. BMO Capital Markets reiterated a “market perform” rating and issued a $40.00 target price on shares of Samsara in a report on Tuesday, June 11th. Loop Capital began coverage on shares of Samsara in a research note on Thursday, April 18th. They set a “buy” rating and a $42.00 target price for the company. Evercore ISI lowered their target price on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a research note on Friday, June 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Samsara in a research report on Friday, June 7th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $36.00 target price (down from $41.00) on shares of Samsara in a report on Friday, June 7th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.64.

Hedge Funds Weigh In On Samsara

Several hedge funds have recently made changes to their positions in the business. Boulder Hill Capital Management LP purchased a new position in Samsara during the fourth quarter valued at approximately $1,115,000. Charles Schwab Investment Management Inc. raised its stake in Samsara by 40.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,656 shares of the company’s stock valued at $22,428,000 after purchasing an additional 254,473 shares during the last quarter. Creative Planning acquired a new position in Samsara during the 3rd quarter valued at $5,878,000. CHURCHILL MANAGEMENT Corp acquired a new position in Samsara during the 4th quarter valued at $854,000. Finally, Norges Bank acquired a new position in Samsara during the 4th quarter valued at $11,693,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

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.