Samsara Inc. (NYSE:IOT – Get Free Report) was down 3.7% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $28.46 and last traded at $29.15. Approximately 783,866 shares changed hands during trading, a decline of 75% from the average daily volume of 3,080,084 shares. The stock had previously closed at $30.27.Specifically, insider Dominic Phillips sold 120,483 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $29.25, for a total transaction of $3,524,127.75. Following the transaction, the insider now directly owns 2,281,248 shares of the company’s stock, valued at approximately $66,726,504. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Marc L. Andreessen sold 391,930 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $30.92, for a total value of $12,118,475.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dominic Phillips sold 120,483 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $29.25, for a total value of $3,524,127.75. Following the completion of the sale, the insider now owns 2,281,248 shares of the company’s stock, valued at $66,726,504. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,227,798 shares of company stock valued at $61,885,373. 66.14% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts have recently weighed in on IOT shares. Wells Fargo & Company upped their target price on Samsara from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, September 1st. Piper Sandler boosted their price target on Samsara from $21.00 to $23.00 in a report on Friday, June 2nd. Royal Bank of Canada boosted their price target on Samsara from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. Truist Financial boosted their price target on Samsara from $20.00 to $27.00 in a report on Friday, June 23rd. Finally, StockNews.com started coverage on Samsara in a report on Thursday, August 17th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Samsara presently has an average rating of “Hold” and an average price target of $26.80.
Samsara Stock Performance
The business has a fifty day simple moving average of $26.74 and a 200-day simple moving average of $23.19. The firm has a market cap of $15.44 billion, a price-to-earnings ratio of -67.27 and a beta of 1.39.
Institutional Investors Weigh In On Samsara
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Samsara by 90,983.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 45,374,298 shares of the company’s stock valued at $1,257,322,000 after buying an additional 45,324,482 shares during the period. Baillie Gifford & Co. increased its stake in shares of Samsara by 13.9% in the second quarter. Baillie Gifford & Co. now owns 21,419,199 shares of the company’s stock valued at $593,526,000 after buying an additional 2,606,137 shares during the period. General Atlantic L.P. acquired a new stake in shares of Samsara in the first quarter valued at about $181,957,000. Vanguard Group Inc. boosted its position in shares of Samsara by 84.4% during the 3rd quarter. Vanguard Group Inc. now owns 7,636,709 shares of the company’s stock valued at $92,175,000 after purchasing an additional 3,495,366 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Samsara by 4.6% during the 4th quarter. Morgan Stanley now owns 7,326,909 shares of the company’s stock valued at $91,073,000 after purchasing an additional 320,468 shares in the last quarter. Institutional investors and hedge funds own 52.47% of the company’s stock.
About Samsara
Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.
