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 transaction of $3,691,536.48. Following the transaction, the chief executive officer now owns 793,219 shares in the company, valued at approximately $39,216,747.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, September 17th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were 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 stock was sold at an average price of $39.92, for a total value of $3,716,831.44.
• On Tuesday, August 27th, Sanjit Biswas sold 84,030 shares of Samsara stock. The shares were 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 stock was 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 transaction of $3,019,315.60.
• On Tuesday, July 30th, Sanjit Biswas sold 65,605 shares of Samsara stock. The shares were sold at an average price of $36.82, for a total transaction of $2,415,576.10.
• On Tuesday, July 23rd, Sanjit Biswas sold 84,150 shares of Samsara stock. The stock was 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 value 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 value of $3,336,960.00.

Samsara Stock Performance

Shares of IOT stock opened at $47.52 on Friday. The stock has a 50 day moving average price of $41.60 and a 200 day moving average price of $37.44. The firm has a market capitalization of $26.44 billion, a P/E ratio of -95.04 and a beta of 1.50. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $50.07.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 24.19% and a negative return on equity of 20.39%. The business’s revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts forecast that Samsara Inc. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Samsara

A number of hedge funds have recently added to or reduced their stakes in IOT. Resources Management Corp CT ADV boosted its holdings in shares of Samsara by 104.0% in the second 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 stake in shares of Samsara in the 4th quarter worth $37,000. National Bank of Canada FI bought a new position in shares of Samsara during the 2nd quarter worth $38,000. Nemes Rush Group LLC purchased a new position in shares of Samsara during the second quarter valued at $45,000. Finally, Tradition Wealth Management LLC bought a new stake in shares of Samsara in the fourth quarter valued at about $46,000. 89.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on IOT shares. 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 report on Friday, September 6th. Bank of America lifted their price objective on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Loop Capital upped their target price on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Piper Sandler lifted their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, TD Cowen upped their price objective on Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Samsara currently has an average rating of “Moderate Buy” and an average 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.