Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 21,157 Shares of Stock

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 21,157 shares of Samsara stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total value of $811,794.09. Following the completion of the transaction, the insider now owns 638,642 shares of the company’s stock, valued at approximately $24,504,693.54. The trade was a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Dominic Phillips also recently made the following trade(s):

• On Monday, March 17th, Dominic Phillips sold 54,134 shares of Samsara stock. The stock was sold at an average price of $38.60, for a total transaction of $2,089,572.40.
• On Monday, February 3rd, Dominic Phillips sold 20,801 shares of Samsara stock. The shares were sold at an average price of $50.97, for a total transaction of $1,060,226.97.

Samsara Stock Down 10.0 %

NYSE:IOT opened at $34.22 on Friday. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of -72.80 and a beta of 1.63. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The company’s 50 day moving average is $46.59 and its 200-day moving average is $47.76.

Hedge Funds Weigh In On Samsara

Several large investors have recently made changes to their positions in IOT. FMR LLC grew its stake in shares of Samsara by 24.0% in the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after acquiring an additional 2,852,575 shares during the last quarter. Jordan Park Trust Co LLC bought a new stake in shares of Samsara in the fourth quarter valued at about $112,041,000. Norges Bank acquired a new stake in Samsara during the fourth quarter worth about $106,274,000. Arrowstreet Capital Limited Partnership increased its stake in Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock valued at $181,045,000 after acquiring an additional 2,148,081 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in Samsara by 1,909.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock valued at $90,026,000 after acquiring an additional 1,777,757 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IOT. Raymond James initiated coverage on shares of Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating on the stock. Wells Fargo & Company dropped their price target on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Craig Hallum reiterated a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Royal Bank of Canada dropped their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Samsara currently 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.