Samsara (NYSE:IOT) Shares Down 2.6% on Insider Selling

Samsara Inc. (NYSE:IOTGet Free Report) shares were down 2.6% on Friday following insider selling activity. The stock traded as low as $38.32 and last traded at $38.43. Approximately 379,124 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 3,431,480 shares. The stock had previously closed at $39.47.

Specifically, CAO James Andrew Munk sold 9,714 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $35.46, for a total transaction of $344,458.44. Following the completion of the transaction, the chief accounting officer now owns 307,185 shares of the company’s stock, valued at $10,892,780.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $30.73, for a total value of $2,950,080.00. Following the completion of the transaction, the chief executive officer now owns 1,115,921 shares of the company’s stock, valued at approximately $34,292,252.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO James Andrew Munk sold 9,714 shares of Samsara stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $35.46, for a total value of $344,458.44. Following the completion of the transaction, the chief accounting officer now directly owns 307,185 shares of the company’s stock, valued at approximately $10,892,780.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,837,779 shares of company stock valued at $66,507,854. 66.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research report on Saturday. Loop Capital assumed coverage on Samsara in a research report on Thursday, April 18th. They issued a “buy” rating and a $42.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Samsara has an average rating of “Moderate Buy” and an average price target of $32.60.

Check Out Our Latest Stock Analysis on Samsara

Samsara Stock Performance

The stock has a 50-day simple moving average of $36.34 and a two-hundred day simple moving average of $33.70. The firm has a market cap of $21.67 billion, a PE ratio of -74.28 and a beta of 1.58.

Samsara (NYSE:IOTGet Free Report) last issued its earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $276.27 million during the quarter, compared to analyst estimates of $258.56 million. Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. As a group, sell-side analysts anticipate that Samsara Inc. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Samsara

Large investors have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Samsara during the 4th quarter valued at about $37,000. Fred Alger Management LLC bought a new position in shares of Samsara during the 3rd quarter valued at approximately $28,000. Montag A & Associates Inc. grew its stake in shares of Samsara by 1,200.0% during the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after acquiring an additional 1,200 shares during the period. Tradition Wealth Management LLC bought a new position in shares of Samsara during the 4th quarter valued at approximately $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Samsara by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after acquiring an additional 381 shares during the period. 89.39% of the stock is currently owned by institutional investors.

About Samsara

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Samsara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Samsara and related companies with MarketBeat.com's FREE daily email newsletter.