Insider Selling: Samsara Inc. (NYSE:IOT) Director Sells 22,500 Shares of Stock

Samsara Inc. (NYSE:IOT) Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.72, for a total value of $871,200.00. Following the completion of the sale, the director now owns 373,579 shares of the company’s stock, valued at approximately $14,464,978.88. This trade represents a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Jonathan Chadwick also recently made the following trade(s):

• On Thursday, December 26th, Jonathan Chadwick sold 22,500 shares of Samsara stock. The stock was sold at an average price of $45.37, for a total transaction of $1,020,825.00.

Samsara Stock Performance

Shares of IOT stock opened at $39.94 on Thursday. The stock has a market cap of $22.41 billion, a PE ratio of -84.98 and a beta of 1.63. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The stock has a fifty day moving average price of $47.96 and a 200 day moving average price of $48.10.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IOT. 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 research report on Friday, March 7th. Raymond James assumed coverage on shares of Samsara in a report on Wednesday, February 26th. They issued a “market perform” rating on the stock. Berenberg Bank initiated coverage on shares of Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 price objective on the stock. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Monday, March 10th. Finally, Morgan Stanley increased their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Institutional Investors Weigh In On Samsara

A number of large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its stake in shares of Samsara by 0.8% during the 4th quarter. California State Teachers Retirement System now owns 312,209 shares of the company’s stock worth $13,640,000 after purchasing an additional 2,577 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Samsara by 18.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,089 shares of the company’s stock worth $703,000 after buying an additional 2,539 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Samsara in the fourth quarter worth $2,062,000. Wealthedge Investment Advisors LLC acquired a new position in shares of Samsara in the fourth quarter worth $398,000. Finally, Cim LLC lifted its position in shares of Samsara by 1.3% in the fourth quarter. Cim LLC now owns 31,164 shares of the company’s stock valued at $1,362,000 after acquiring an additional 386 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

About Samsara

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.