Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $5,582,400.00 in Stock

Samsara Inc. (NYSE:IOT) insider Sanjit Biswas sold 160,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $34.89, for a total transaction of $5,582,400.00. Following the completion of the transaction, the insider now directly owns 108,000 shares of the company’s stock, valued at approximately $3,768,120. This represents a 59.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, March 25th, Sanjit Biswas sold 94,020 shares of Samsara stock. The stock was sold at an average price of $42.68, for a total transaction of $4,012,773.60.
• On Tuesday, March 4th, Sanjit Biswas sold 145,392 shares of Samsara stock. The stock was sold at an average price of $44.27, for a total value of $6,436,503.84.
• On Tuesday, February 25th, Sanjit Biswas sold 118,589 shares of Samsara stock. The shares were sold at an average price of $49.15, for a total value of $5,828,649.35.
• On Thursday, February 13th, Sanjit Biswas sold 13,086 shares of Samsara stock. The stock was sold at an average price of $55.75, for a total value of $729,544.50.
• On Tuesday, February 11th, Sanjit Biswas sold 85,291 shares of Samsara stock. The shares were sold at an average price of $55.30, for a total transaction of $4,716,592.30.
• On Tuesday, January 21st, Sanjit Biswas sold 73,762 shares of Samsara stock. The shares were sold at an average price of $47.08, for a total transaction of $3,472,714.96.
• On Friday, January 17th, Sanjit Biswas sold 72,077 shares of Samsara stock. The stock was sold at an average price of $46.40, for a total transaction of $3,344,372.80.
• On Wednesday, January 15th, Sanjit Biswas sold 170,416 shares of Samsara stock. The stock was sold at an average price of $45.30, for a total value of $7,719,844.80.
• On Monday, January 13th, Sanjit Biswas sold 56,474 shares of Samsara stock. The shares were sold at an average price of $43.33, for a total value of $2,447,018.42.
• On Friday, January 10th, Sanjit Biswas sold 81,163 shares of Samsara stock. The stock was sold at an average price of $43.39, for a total value of $3,521,662.57.

Samsara Stock Performance

Shares of Samsara stock opened at $37.70 on Friday. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The firm’s 50-day simple moving average is $44.21 and its 200-day simple moving average is $47.08. The firm has a market cap of $21.46 billion, a PE ratio of -80.21 and a beta of 1.71.

Institutional Trading of Samsara

Institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 414 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in Samsara in the fourth quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Samsara during the first quarter valued at $31,000. Hobbs Group Advisors LLC acquired a new stake in shares of Samsara during the third quarter worth $34,000. Finally, IFP Advisors Inc lifted its position in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after buying an additional 598 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on IOT. Cowen restated a “buy” rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Monday, March 10th. Wells Fargo & Company lowered their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Truist Financial reduced their price objective on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Finally, Berenberg Bank initiated coverage on Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price for the company. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.20.

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.