Insider Selling: Samsara Inc. (NYSE:IOT) CAO Sells $621,536.36 in Stock

Samsara Inc. (NYSE:IOT) CAO James Andrew Munk sold 13,547 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.88, for a total transaction of $621,536.36. Following the transaction, the chief accounting officer now owns 306,120 shares of the company’s stock, valued at approximately $14,044,785.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

James Andrew Munk also recently made the following trade(s):

• On Tuesday, September 10th, James Andrew Munk sold 1,093 shares of Samsara stock. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83.

Samsara Stock Up 3.8 %

Shares of NYSE IOT opened at $49.42 on Friday. The stock has a market capitalization of $27.22 billion, a price-to-earnings ratio of -98.84 and a beta of 1.50. The stock’s fifty day simple moving average is $40.39 and its 200 day simple moving average is $36.97. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $49.56.

Samsara (NYSE:IOT) last released its quarterly earnings results 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 return on equity of 20.39% and a negative net margin of 24.19%. Samsara’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) EPS. As a group, analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Samsara

Hedge funds have recently made changes to their positions in the company. Resources Management Corp CT ADV raised its stake 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 purchasing an additional 490 shares during the period. Quarry LP purchased a new position in shares of Samsara during the fourth quarter valued at $37,000. National Bank of Canada FI acquired a new position in Samsara during the second quarter valued at $38,000. Nemes Rush Group LLC purchased a new stake in Samsara in the 2nd quarter worth about $45,000. Finally, Tradition Wealth Management LLC acquired a new stake in Samsara during the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IOT. Morgan Stanley boosted their price objective on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Evercore ISI boosted their price target on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Royal Bank of Canada lifted their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Loop Capital upped their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, StockNews.com raised shares of Samsara from a “sell” rating to a “hold” 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 stock. According to MarketBeat, the stock 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.