Sanjit Biswas Sells 74,667 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) CEO Sanjit Biswas sold 74,667 shares of Samsara stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $49.44, for a total value of $3,691,536.48. Following the completion of the transaction, the chief executive officer now owns 793,219 shares in the company, valued at approximately $39,216,747.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Sanjit Biswas also recently made the following trade(s):

• On Tuesday, September 17th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $46.69, for a total value of $4,482,240.00.
• On Tuesday, September 10th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $46.88, for a total value of $4,500,480.00.
• On Tuesday, September 3rd, Sanjit Biswas sold 93,107 shares of Samsara stock. The shares were sold at an average price of $39.92, for a total transaction of $3,716,831.44.
• On Tuesday, August 27th, Sanjit Biswas sold 84,030 shares of Samsara stock. The stock was sold at an average price of $41.94, for a total transaction of $3,524,218.20.
• On Tuesday, August 20th, Sanjit Biswas sold 78,295 shares of Samsara stock. The shares were sold at an average price of $40.50, for a total transaction of $3,170,947.50.
• On Tuesday, August 6th, Sanjit Biswas sold 81,515 shares of Samsara stock. The shares were sold at an average price of $37.04, for a total value of $3,019,315.60.
• On Tuesday, July 30th, Sanjit Biswas sold 65,605 shares of Samsara stock. The stock was sold at an average price of $36.82, for a total value of $2,415,576.10.
• On Tuesday, July 23rd, Sanjit Biswas sold 84,150 shares of Samsara stock. The shares were sold at an average price of $38.06, for a total value of $3,202,749.00.
• On Tuesday, July 16th, Sanjit Biswas sold 59,112 shares of Samsara stock. The shares were sold at an average price of $38.05, for a total transaction of $2,249,211.60.
• On Tuesday, July 9th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $34.76, for a total transaction of $3,336,960.00.

Samsara Stock Down 2.1 %

Shares of NYSE IOT opened at $47.52 on Friday. The firm’s 50-day moving average price is $41.60 and its two-hundred day moving average price is $37.42. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $50.07. The stock has a market capitalization of $26.44 billion, a P/E ratio of -95.04 and a beta of 1.50.

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

Analyst Ratings Changes

A number of equities analysts have commented on IOT shares. Royal Bank of Canada boosted their price objective on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Truist Financial increased their price target on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. Wolfe Research restated an “outperform” rating and set a $44.00 price objective on shares of Samsara in a report on Friday, June 28th. Loop Capital increased their target price on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Evercore ISI lifted their price target on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.07.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently modified their holdings of the company. Cim LLC bought a new stake in Samsara in the 2nd quarter valued at about $1,049,000. Nemes Rush Group LLC acquired a new position in shares of Samsara during the second quarter worth approximately $45,000. Creative Planning grew its holdings in Samsara by 16.1% in the 2nd quarter. Creative Planning now owns 147,457 shares of the company’s stock worth $4,969,000 after buying an additional 20,482 shares in the last quarter. MBB Public Markets I LLC grew its holdings in Samsara by 107.9% in the 2nd quarter. MBB Public Markets I LLC now owns 13,266 shares of the company’s stock worth $447,000 after buying an additional 6,885 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in Samsara during the 2nd quarter valued at $745,000. 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.