Dominic Phillips Sells 54,134 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 54,134 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.60, for a total transaction of $2,089,572.40. Following the completion of the sale, the insider now directly owns 638,642 shares of the company’s stock, valued at approximately $24,651,581.20. This trade represents a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction of $1,060,226.97.

Samsara Price Performance

Shares of NYSE IOT opened at $39.53 on Friday. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90. The business’s 50 day moving average is $47.87 and its two-hundred day moving average is $48.04. The stock has a market capitalization of $22.19 billion, a P/E ratio of -84.11 and a beta of 1.63.

Hedge Funds Weigh In On Samsara

Several large investors have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its stake in Samsara by 12.6% during the third quarter. Victory Capital Management Inc. now owns 67,851 shares of the company’s stock worth $3,265,000 after buying an additional 7,613 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Samsara during the 3rd quarter worth about $1,180,000. KBC Group NV grew its holdings in Samsara by 103.9% during the 3rd quarter. KBC Group NV now owns 24,243 shares of the company’s stock valued at $1,167,000 after purchasing an additional 12,356 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in Samsara in the 3rd quarter worth about $264,000. Finally, Empowered Funds LLC lifted its stake in Samsara by 55.1% in the third quarter. Empowered Funds LLC now owns 9,750 shares of the company’s stock worth $469,000 after purchasing an additional 3,463 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

Analysts Set New Price Targets

IOT has been the topic of several research analyst reports. Piper Sandler upgraded Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research report on Monday, March 10th. Craig Hallum reissued a “hold” rating on shares of Samsara in a report on Friday, March 7th. Berenberg Bank began coverage on shares of Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Raymond James initiated coverage on shares of Samsara in a report on Wednesday, February 26th. They issued a “market perform” rating on the stock. Finally, Wells Fargo & Company cut 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.60.

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.