Samsara Inc. (NYSE:IOT) Major Shareholder Sanjit Biswas Sells 83,333 Shares

Samsara Inc. (NYSE:IOT) major shareholder Sanjit Biswas sold 83,333 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $53.81, for a total transaction of $4,484,148.73. Following the transaction, the insider now owns 19,200 shares in the company, valued at $1,033,152. The trade was a 81.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, November 25th, Sanjit Biswas sold 75,594 shares of Samsara stock. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66.
• On Tuesday, November 19th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $50.37, for a total value of $4,835,520.00.
• On Tuesday, November 5th, Sanjit Biswas sold 64,188 shares of Samsara stock. The stock was sold at an average price of $47.48, for a total value of $3,047,646.24.
• On Tuesday, October 29th, Sanjit Biswas sold 42,994 shares of Samsara stock. The stock was sold at an average price of $48.55, for a total transaction of $2,087,358.70.
• On Tuesday, October 22nd, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $47.09, for a total transaction of $4,520,640.00.
• On Tuesday, October 15th, Sanjit Biswas sold 58,739 shares of Samsara stock. The stock was sold at an average price of $50.61, for a total transaction of $2,972,780.79.
• On Tuesday, October 8th, Sanjit Biswas sold 54,492 shares of Samsara stock. The stock was sold at an average price of $47.80, for a total value of $2,604,717.60.
• 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 shares were sold at an average price of $49.44, for a total value 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.

Samsara Stock Down 5.2 %

Shares of NYSE IOT opened at $52.27 on Friday. The stock has a market capitalization of $29.08 billion, a price-to-earnings ratio of -111.21 and a beta of 1.53. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $57.51. The firm has a 50-day simple moving average of $50.44 and a 200-day simple moving average of $42.40.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate 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 revenue was up 36.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.11) earnings per share. As a group, equities research analysts expect that Samsara Inc. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

IOT has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday. Piper Sandler increased their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial lifted their price target on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Loop Capital increased their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Craig Hallum began coverage on Samsara in a research report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price objective for the company. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Samsara has a consensus rating of “Hold” and an average target price of $51.29.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara in the third quarter valued at about $34,000. Continuum Advisory LLC increased its holdings in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares during the last quarter. Resources Management Corp CT ADV raised its position in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares during the period. UMB Bank n.a. raised its position in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after buying an additional 418 shares during the period. Finally, National Bank of Canada FI acquired a new position in Samsara in the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.