Samsara (NYSE:IOT) Shares Gap Down Following Insider Selling

Shares of Samsara Inc. (NYSE:IOT) gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $40.15, but opened at $38.50. Samsara shares last traded at $38.3310, with a volume of 2,550,508 shares traded.

Specifically, insider Dominic Phillips sold 17,909 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $44.25, for a total value of $792,473.25. Following the sale, the insider owned 1,019,363 shares of the company’s stock, valued at $45,106,812.75. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dominic Phillips sold 11,710 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $44.25, for a total transaction of $518,167.50. Following the sale, the insider owned 836,100 shares of the company’s stock, valued at $36,997,425. This trade represents a 1.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Samsara from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Guggenheim increased their price target on shares of Samsara from $45.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, September 4th. Bank of America raised their price target on shares of Samsara from $47.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 4th. Wells Fargo & Company boosted their price objective on shares of Samsara from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, September 4th. Finally, TD Cowen increased their price objective on Samsara from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, September 4th. Fifteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and an average target price of $52.44.

Samsara Trading Down 0.5%

The firm’s 50 day moving average price is $38.22 and its 200-day moving average price is $33.62. The company has a market cap of $22.40 billion, a P/E ratio of 240.29, a price-to-earnings-growth ratio of 9.52 and a beta of 1.35.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Samsara had a net margin of 4.90% and a return on equity of 4.13%. The firm had revenue of $508.44 million for the quarter, compared to analysts’ expectations of $483.29 million. During the same period last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. Analysts predict that Samsara Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Samsara

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acumen Wealth Advisors LLC acquired a new position in shares of Samsara during the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd raised its position in shares of Samsara by 312.6% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 883 shares of the company’s stock valued at $31,000 after acquiring an additional 669 shares during the period. AlphaCentric Advisors LLC bought a new position in Samsara during the 4th quarter worth approximately $36,000. Markowski Investments bought a new position in Samsara during the 2nd quarter worth approximately $37,000. Finally, IFP Advisors Inc grew its holdings in Samsara by 194.4% during the third quarter. IFP Advisors Inc now owns 1,254 shares of the company’s stock valued at $47,000 after purchasing an additional 828 shares during the period. Institutional investors own 96.02% of the company’s stock.

About Samsara

Samsara, Inc is a technology company that provides a cloud-based Connected Operations Platform for organizations that rely on physical operations. Its platform helps businesses monitor vehicles, equipment, worksites and employees, while using connected devices, software and data analytics to improve safety, efficiency and productivity.

The company’s products and services include vehicle telematics, GPS tracking, electronic logging and fleet management tools; video-based safety and security systems; equipment and asset monitoring; workforce and workflow management applications; and tools for dispatching, routing, maintenance and site visibility.