Samsara Inc. (NYSE:IOT) Insider Dominic Phillips Sells 66,642 Shares

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 66,642 shares of Samsara stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.88, for a total transaction of $3,057,534.96. Following the completion of the sale, the insider now directly owns 882,664 shares in the company, valued at approximately $40,496,624.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, August 1st, Dominic Phillips sold 20,491 shares of Samsara stock. The shares were sold at an average price of $36.91, for a total transaction of $756,322.81.
• On Monday, July 1st, Dominic Phillips sold 21,112 shares of Samsara stock. The shares were sold at an average price of $34.42, for a total transaction of $726,675.04.

Samsara Price Performance

NYSE:IOT opened at $47.59 on Friday. The firm has a 50 day simple moving average of $39.93 and a 200-day simple moving average of $36.80. The firm has a market cap of $26.21 billion, a PE ratio of -95.18 and a beta of 1.50. Samsara Inc. has a 1-year low of $21.48 and a 1-year high of $48.98.

Samsara (NYSE:IOT) last posted its quarterly earnings data 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. The business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company’s revenue was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share. As a group, sell-side analysts expect that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently modified their holdings of IOT. Baillie Gifford & Co. raised its position in shares of Samsara by 18.1% in the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after buying an additional 4,207,974 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Samsara by 102.1% in the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after purchasing an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after purchasing an additional 2,797,326 shares during the period. Vanguard Group Inc. grew its holdings in Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Samsara in the second quarter valued at approximately $29,464,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Bank of America raised their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Piper Sandler raised their price objective on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, TD Cowen raised their price objective on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara has an average rating of “Moderate Buy” and a consensus price target of $42.07.

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.