Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 136,287 Shares of Stock

Samsara Inc. (NYSE:IOT) insider John Bicket sold 136,287 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $46.03, for a total value of $6,273,290.61. Following the completion of the transaction, the insider now directly owns 64,458 shares in the company, valued at $2,967,001.74. The trade was a 67.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

John Bicket also recently made the following trade(s):

• On Wednesday, June 4th, John Bicket sold 33,713 shares of Samsara stock. The stock was sold at an average price of $46.46, for a total value of $1,566,305.98.
• On Thursday, May 22nd, John Bicket sold 52,573 shares of Samsara stock. The shares were sold at an average price of $46.25, for a total transaction of $2,431,501.25.
• On Wednesday, May 21st, John Bicket sold 63,279 shares of Samsara stock. The shares were sold at an average price of $46.54, for a total transaction of $2,945,004.66.
• On Tuesday, May 20th, John Bicket sold 54,148 shares of Samsara stock. The stock was sold at an average price of $47.33, for a total transaction of $2,562,824.84.

Samsara Stock Down 4.3%

Shares of IOT stock opened at $45.21 on Friday. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The company’s fifty day simple moving average is $41.58 and its 200-day simple moving average is $45.37. The firm has a market cap of $25.74 billion, a PE ratio of -96.19 and a beta of 1.74.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The firm had revenue of $366.88 million for the quarter, compared to analysts’ expectations of $351.44 million. During the same period in the previous year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 30.7% on a year-over-year basis. On average, equities analysts predict that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of Samsara

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its position in shares of Samsara by 26.0% during the 1st quarter. Rhumbline Advisers now owns 46,249 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,552 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of Samsara by 47.6% in the first quarter. IFM Investors Pty Ltd now owns 49,509 shares of the company’s stock valued at $1,898,000 after buying an additional 15,958 shares in the last quarter. SCS Capital Management LLC acquired a new position in Samsara during the first quarter worth $571,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Samsara by 58.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,823,484 shares of the company’s stock worth $108,224,000 after acquiring an additional 1,047,068 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in Samsara by 3.4% in the first quarter. Empowered Funds LLC now owns 10,168 shares of the company’s stock valued at $390,000 after acquiring an additional 335 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IOT. Raymond James began coverage on shares of Samsara in a report on Wednesday, February 26th. They issued a “market perform” rating for the company. Cowen reissued a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Royal Bank of Canada dropped their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Truist Financial cut their price objective on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Finally, Morgan Stanley lowered their target price on Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Samsara currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Samsara Company Profile

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.