Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $3,344,372.80 in Stock

Samsara Inc. (NYSE:IOT) insider Sanjit Biswas sold 72,077 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $46.40, for a total value of $3,344,372.80. Following the transaction, the insider now directly owns 31,654 shares of the company’s stock, valued at approximately $1,468,745.60. This trade represents a 69.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, January 21st, Sanjit Biswas sold 73,762 shares of Samsara stock. The stock was sold at an average price of $47.08, for a total value of $3,472,714.96.
• On Wednesday, January 15th, Sanjit Biswas sold 170,416 shares of Samsara stock. The shares were 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 transaction 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 transaction of $3,521,662.57.
• On Wednesday, January 8th, Sanjit Biswas sold 85,063 shares of Samsara stock. The shares were sold at an average price of $43.84, for a total transaction of $3,729,161.92.
• On Monday, January 6th, Sanjit Biswas sold 59,114 shares of Samsara stock. The stock was sold at an average price of $45.25, for a total value of $2,674,908.50.
• On Thursday, December 26th, Sanjit Biswas sold 48,884 shares of Samsara stock. The shares were sold at an average price of $45.36, for a total value of $2,217,378.24.
• On Tuesday, December 3rd, Sanjit Biswas sold 83,333 shares of Samsara stock. The stock was sold at an average price of $53.81, for a total transaction of $4,484,148.73.
• On Monday, November 25th, Sanjit Biswas sold 75,594 shares of Samsara stock. The shares were sold at an average price of $55.89, for a total transaction of $4,224,948.66.
• On Tuesday, November 19th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $50.37, for a total transaction of $4,835,520.00.

Samsara Price Performance

Samsara stock opened at $47.81 on Thursday. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $57.51. The company has a market cap of $26.83 billion, a price-to-earnings ratio of -101.73 and a beta of 1.59. The stock’s 50-day moving average is $48.18 and its 200-day moving average is $45.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in shares of Samsara by 4.7% in the third quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after acquiring an additional 95,006 shares in the last quarter. HighTower Advisors LLC boosted its position in Samsara by 193.4% during the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock worth $2,981,000 after purchasing an additional 40,833 shares during the period. Swiss National Bank increased its holdings in Samsara by 3.1% in the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after purchasing an additional 18,400 shares in the last quarter. International Assets Investment Management LLC raised its position in Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after purchasing an additional 10,452 shares during the period. Finally, Bank of Montreal Can acquired a new position in shares of Samsara during the second quarter worth about $537,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IOT. TD Cowen raised their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Piper Sandler boosted their price target on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. BNP Paribas began coverage on Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company upped their target price on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.29.

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.