Samsara Inc. (NYSE:IOT) CAO James Andrew Munk Sells 1,093 Shares of Stock

Samsara Inc. (NYSE:IOT) CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the transaction, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Samsara Stock Down 2.7 %

Shares of NYSE:IOT opened at $46.03 on Thursday. The stock has a market capitalization of $25.35 billion, a PE ratio of -92.06 and a beta of 1.50. The firm’s 50 day moving average price is $38.79 and its 200-day moving average price is $36.34. Samsara Inc. has a twelve month low of $21.48 and a twelve month high of $47.68.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.58%. The business had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same period last year, the firm earned ($0.11) earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis. Analysts expect that Samsara Inc. will post -0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Samsara

Several institutional investors and hedge funds have recently bought and sold shares of IOT. Baillie Gifford & Co. raised its stake 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 worth $924,499,000 after buying an additional 4,207,974 shares during the period. 1832 Asset Management L.P. lifted its holdings in Samsara by 102.1% during 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Samsara by 18.8% during 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Samsara during the 2nd quarter valued at $29,464,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IOT has been the subject of several recent analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Truist Financial boosted their price objective on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 6th. JPMorgan Chase & Co. lifted their target price on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada upped their price target on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Finally, Piper Sandler lifted their price objective on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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.