Samsara Inc. (NYSE:IOT) Insider Adam Eltoukhy Sells 12,500 Shares

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 12,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $45.00, for a total value of $562,500.00. Following the completion of the transaction, the insider now directly owns 465,967 shares in the company, valued at $20,968,515. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Adam Eltoukhy also recently made the following trade(s):

• On Monday, July 15th, Adam Eltoukhy sold 9,471 shares of Samsara stock. The shares were sold at an average price of $37.79, for a total value of $357,909.09.

Samsara Stock Up 2.5 %

Shares of Samsara stock opened at $47.29 on Wednesday. The firm has a market cap of $26.05 billion, a PE ratio of -94.58 and a beta of 1.50. The business has a 50-day moving average price of $38.58 and a 200 day moving average price of $36.28. Samsara Inc. has a twelve month low of $21.48 and a twelve month high of $47.68.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.58% and a negative net margin of 24.19%. The business had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the previous year, the business earned ($0.11) earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. On average, sell-side analysts expect that Samsara Inc. will post -0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IOT shares. Bank of America lifted their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Morgan Stanley raised their target price on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Wells Fargo & Company upped their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada lifted their price objective on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Hedge Funds Weigh In On Samsara

A number of large investors have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. increased its stake in shares of Samsara by 18.1% during the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after purchasing an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after buying an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after buying an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after acquiring an additional 1,841,149 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Samsara in the second quarter valued at approximately $29,464,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

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.