Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 31,042 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Adam Eltoukhy sold 31,042 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $35.89, for a total transaction of $1,114,097.38. Following the sale, the insider now directly owns 331,106 shares of the company’s stock, valued at $11,883,394.34. This represents a 8.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, March 10th, Adam Eltoukhy sold 3,903 shares of Samsara stock. The shares were sold at an average price of $34.07, for a total value of $132,975.21.
• On Thursday, February 20th, Adam Eltoukhy sold 9,043 shares of Samsara stock. The shares were sold at an average price of $53.88, for a total transaction of $487,236.84.
• On Friday, December 20th, Adam Eltoukhy sold 23,960 shares of Samsara stock. The shares were sold at an average price of $43.81, for a total transaction of $1,049,687.60.

Samsara Price Performance

Shares of IOT stock traded up $1.85 during trading hours on Tuesday, reaching $35.91. 6,796,361 shares of the company traded hands, compared to its average volume of 3,687,810. The firm has a 50-day moving average price of $48.83 and a 200 day moving average price of $48.31. The company has a market cap of $20.15 billion, a P/E ratio of -76.40 and a beta of 1.63. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90.

Hedge Funds Weigh In On Samsara

Several hedge funds have recently modified their holdings of IOT. Farther Finance Advisors LLC increased its stake in Samsara by 77.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $91,000 after acquiring an additional 821 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Samsara by 2.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 78,287 shares of the company’s stock worth $3,767,000 after purchasing an additional 2,114 shares during the last quarter. Baillie Gifford & Co. raised its stake in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after purchasing an additional 6,411,178 shares in the last quarter. Rakuten Securities Inc. raised its stake in Samsara by 100.4% during the third quarter. Rakuten Securities Inc. now owns 46,903 shares of the company’s stock valued at $2,257,000 after purchasing an additional 23,495 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Samsara by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,283 shares of the company’s stock worth $18,107,000 after buying an additional 16,528 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IOT. Truist Financial decreased their price objective on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a report on Friday. Loop Capital upped their target price on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Berenberg Bank began coverage on Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Royal Bank of Canada lowered 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. Finally, Wells Fargo & Company decreased their target price on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Samsara has a consensus rating of “Moderate Buy” and an average price target of $49.60.

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.