Insider Selling: Samsara Inc. (NYSE:IOT) Major Shareholder Sells 112,380 Shares of Stock

Samsara Inc. (NYSE:IOT) major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of Samsara stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total transaction of $5,160,489.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Samsara Stock Performance

NYSE:IOT opened at $46.08 on Friday. The stock has a 50-day simple moving average of $50.46 and a 200 day simple moving average of $42.65. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $57.51. The company has a market cap of $25.64 billion, a PE ratio of -98.04 and a beta of 1.53.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IOT. TD Cowen lifted their price objective on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Loop Capital boosted their target price on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Craig Hallum initiated coverage on shares of Samsara in a research report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target on the stock. Morgan Stanley boosted their price objective on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, Piper Sandler increased their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Samsara has a consensus rating of “Hold” and a consensus price target of $51.29.

Hedge Funds Weigh In On Samsara

Hedge funds have recently made changes to their positions in the business. Continuum Advisory LLC grew its holdings in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after acquiring an additional 247 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of Samsara by 19.2% during the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after acquiring an additional 250 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after purchasing an additional 304 shares during the last quarter. Wellington Management Group LLP raised its holdings in Samsara by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock valued at $383,000 after acquiring an additional 388 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the period. 96.02% of the stock is owned by institutional investors.

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.