Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $3,721,023.04 in Stock

Samsara Inc. (NYSE:IOT) insider John Bicket sold 93,212 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the completion of the transaction, the insider now owns 76,800 shares in the company, valued at $3,065,856. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, August 27th, John Bicket sold 83,583 shares of Samsara stock. The stock was sold at an average price of $41.94, for a total transaction of $3,505,471.02.
• On Tuesday, August 20th, John Bicket sold 78,128 shares of Samsara stock. The stock was sold at an average price of $40.51, for a total transaction of $3,164,965.28.
• On Tuesday, August 6th, John Bicket sold 81,486 shares of Samsara stock. The stock was sold at an average price of $37.04, for a total transaction of $3,018,241.44.
• On Tuesday, July 30th, John Bicket sold 65,632 shares of Samsara stock. The stock was sold at an average price of $36.82, for a total transaction of $2,416,570.24.
• On Tuesday, July 23rd, John Bicket sold 82,925 shares of Samsara stock. The shares were sold at an average price of $38.08, for a total transaction of $3,157,784.00.
• On Wednesday, July 17th, John Bicket sold 36,358 shares of Samsara stock. The shares were sold at an average price of $37.23, for a total transaction of $1,353,608.34.

Samsara Trading Up 13.5 %

Samsara stock opened at $43.98 on Friday. The firm has a 50-day moving average price of $38.12 and a 200-day moving average price of $36.03. The firm has a market capitalization of $24.22 billion, a PE ratio of -87.96 and a beta of 1.50. Samsara Inc. has a 12-month low of $21.48 and a 12-month high of $45.43.

Samsara (NYSE:IOT) last released its 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 firm had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The business’s revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.11) EPS. As a group, sell-side analysts predict that Samsara Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Samsara

Several institutional investors have recently made changes to their positions in IOT. Resources Management Corp CT ADV lifted its holdings in Samsara by 104.0% during the 2nd 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 in the last quarter. Quarry LP bought a new stake in Samsara during the 4th quarter valued at about $37,000. National Bank of Canada FI bought a new stake in Samsara during the 2nd quarter valued at about $38,000. Montag A & Associates Inc. lifted its holdings in Samsara by 1,200.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after buying an additional 1,200 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new stake in Samsara during the 2nd quarter valued at about $45,000. Institutional investors own 89.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IOT shares. BMO Capital Markets raised their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday. Truist Financial raised their target price on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday. Wolfe Research reaffirmed an “outperform” rating and set a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. Evercore ISI raised 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. Finally, TD Cowen raised their target price on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.07.

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.