Sanjit Biswas Sells 54,492 Shares of Samsara Inc. (NYSE:IOT) Stock

by · The Cerbat Gem

Samsara Inc. (NYSE:IOT – Get Free Report) CEO Sanjit Biswas sold 54,492 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $47.80, for a total transaction of $2,604,717.60. Following the completion of the sale, the chief executive officer now directly owns 717,394 shares in the company, valued at approximately $34,291,433.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Sanjit Biswas also recently made the following trade(s):

  • On Tuesday, October 1st, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $46.83, for a total value of $4,495,680.00.
  • On Tuesday, September 24th, Sanjit Biswas sold 74,667 shares of Samsara stock. The stock was sold at an average price of $49.44, for a total transaction of $3,691,536.48.
  • On Tuesday, September 17th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $46.69, for a total transaction of $4,482,240.00.
  • On Tuesday, September 10th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $46.88, for a total value of $4,500,480.00.
  • On Tuesday, September 3rd, Sanjit Biswas sold 93,107 shares of Samsara stock. The shares were sold at an average price of $39.92, for a total transaction of $3,716,831.44.
  • On Tuesday, August 27th, Sanjit Biswas sold 84,030 shares of Samsara stock. The shares were sold at an average price of $41.94, for a total transaction of $3,524,218.20.
  • On Tuesday, August 20th, Sanjit Biswas sold 78,295 shares of Samsara stock. The shares were sold at an average price of $40.50, for a total transaction of $3,170,947.50.
  • On Tuesday, August 6th, Sanjit Biswas sold 81,515 shares of Samsara stock. The stock was sold at an average price of $37.04, for a total value of $3,019,315.60.
  • On Tuesday, July 30th, Sanjit Biswas sold 65,605 shares of Samsara stock. The shares were sold at an average price of $36.82, for a total value of $2,415,576.10.
  • On Tuesday, July 23rd, Sanjit Biswas sold 84,150 shares of Samsara stock. The stock was sold at an average price of $38.06, for a total value of $3,202,749.00.

Samsara Trading Up 5.5 %

Shares of IOT stock traded up $2.66 during trading on Thursday, reaching $50.59. 5,018,101 shares of the company’s stock traded hands, compared to its average volume of 3,742,932. The firm’s 50-day moving average is $43.20 and its 200 day moving average is $38.00. The company has a market capitalization of $27.86 billion, a P/E ratio of -100.76 and a beta of 1.52. Samsara Inc. has a 1 year low of $21.48 and a 1 year high of $50.66.

Samsara (NYSE:IOT – Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) earnings per share. As a group, sell-side analysts predict that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Samsara

A number of large investors have recently modified their holdings of IOT. CHURCHILL MANAGEMENT Corp grew its position in Samsara by 135.6% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after buying an additional 34,679 shares in the last quarter. Mission Wealth Management LP purchased a new position in shares of Samsara during the first quarter worth about $1,100,000. Quarry LP bought a new position in shares of Samsara in the fourth quarter worth approximately $37,000. Magnetar Financial LLC purchased a new stake in Samsara in the second quarter valued at approximately $1,240,000. Finally, Swiss National Bank bought a new stake in Samsara during the first quarter valued at approximately $19,477,000. 89.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IOT has been the topic of a number of analyst reports. Evercore ISI upped their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Wolfe Research reiterated an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a research note on Friday, June 28th. Bank of America boosted their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Piper Sandler lifted their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Truist Financial upped their price objective on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara presently has a consensus rating of “Hold” and a consensus target price of $42.33.

Read Our Latest Stock Report on IOT

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.

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