Samsara Inc. (NYSE:IOT) Director Sells $2,548,069.92 in Stock

Samsara Inc. (NYSE:IOT) Director Hemant Taneja sold 68,904 shares of Samsara stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $36.98, for a total transaction of $2,548,069.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Samsara Stock Down 2.6 %

IOT opened at $38.39 on Thursday. Samsara Inc. has a 52-week low of $16.63 and a 52-week high of $40.54. The company has a 50 day moving average of $34.38 and a two-hundred day moving average of $30.39. The company has a market cap of $20.74 billion, a P/E ratio of -72.43 and a beta of 1.55.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of Samsara from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, December 1st. Piper Sandler increased their target price on shares of Samsara from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 1st. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. BMO Capital Markets increased their price objective on shares of Samsara from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, December 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Samsara from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, December 1st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $31.56.

Institutional Trading of Samsara

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new position in shares of Samsara during the 1st quarter worth $558,000. PNC Financial Services Group Inc. increased its position in Samsara by 141.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 20,170 shares of the company’s stock valued at $322,000 after acquiring an additional 11,820 shares in the last quarter. BlackRock Inc. increased its position in Samsara by 17.3% in the 1st quarter. BlackRock Inc. now owns 3,227,576 shares of the company’s stock valued at $51,704,000 after acquiring an additional 477,013 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Samsara by 52.8% in the first quarter. Vanguard Group Inc. now owns 3,033,132 shares of the company’s stock valued at $48,591,000 after buying an additional 1,048,694 shares during the period. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Samsara in the 1st quarter valued at approximately $3,109,000. 89.39% of the stock is owned by institutional investors and hedge funds.

Samsara Company Profile

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.