Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 21,157 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 21,157 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $38.37, for a total transaction of $811,794.09. Following the sale, the insider now directly owns 638,642 shares in the company, valued at approximately $24,504,693.54. The trade was a 3.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Dominic Phillips also recently made the following trade(s):

• On Monday, March 17th, Dominic Phillips sold 54,134 shares of Samsara stock. The shares were sold at an average price of $38.60, for a total value of $2,089,572.40.
• On Monday, February 3rd, Dominic Phillips sold 20,801 shares of Samsara stock. The stock was sold at an average price of $50.97, for a total value of $1,060,226.97.

Samsara Price Performance

Samsara stock traded down $0.71 during trading hours on Wednesday, hitting $38.09. The stock had a trading volume of 6,518,904 shares, compared to its average volume of 3,597,146. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of -81.04 and a beta of 1.63. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90. The stock’s fifty day moving average is $47.06 and its two-hundred day moving average is $47.93.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IOT. Loop Capital raised their target price on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Piper Sandler upgraded Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price on the stock in a research note on Monday, March 10th. Truist Financial cut their price target on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Raymond James started coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company reduced their target price on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Institutional Investors Weigh In On Samsara

A number of large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its holdings in shares of Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after purchasing an additional 414 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Samsara in the 4th quarter valued at approximately $31,000. Hobbs Group Advisors LLC purchased a new position in Samsara during the third quarter worth $34,000. IFP Advisors Inc raised its holdings in shares of Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after acquiring an additional 598 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Samsara in the fourth quarter valued at $38,000. 96.02% of the stock is owned by institutional investors and hedge funds.

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.