Sanjit Biswas Sells 96,000 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $39.26, for a total transaction of $3,768,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,307,921 shares of the company’s stock, valued at approximately $51,348,978.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Sanjit Biswas also recently made the following trade(s):

• On Tuesday, March 19th, Sanjit Biswas sold 84,137 shares of Samsara stock. The stock was sold at an average price of $36.36, for a total transaction of $3,059,221.32.
• On Tuesday, March 12th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $38.70, for a total transaction of $3,715,200.00.
• On Tuesday, March 5th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $33.20, for a total value of $3,187,200.00.
• On Tuesday, February 27th, Sanjit Biswas sold 80,342 shares of Samsara stock. The stock was sold at an average price of $33.74, for a total value of $2,710,739.08.
• On Tuesday, February 13th, Sanjit Biswas sold 96,000 shares of Samsara stock. The shares were sold at an average price of $32.92, for a total value of $3,160,320.00.
• On Tuesday, February 6th, Sanjit Biswas sold 79,165 shares of Samsara stock. The stock was sold at an average price of $31.42, for a total value of $2,487,364.30.
• On Tuesday, January 30th, Sanjit Biswas sold 92,216 shares of Samsara stock. The shares were sold at an average price of $31.93, for a total transaction of $2,944,456.88.
• On Tuesday, January 23rd, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $32.50, for a total transaction of $3,120,000.00.
• On Tuesday, January 16th, Sanjit Biswas sold 96,000 shares of Samsara stock. The stock was sold at an average price of $33.85, for a total transaction of $3,249,600.00.
• On Tuesday, January 9th, Sanjit Biswas sold 87,127 shares of Samsara stock. The shares were sold at an average price of $32.63, for a total transaction of $2,842,954.01.

Samsara Stock Down 1.6 %

IOT stock traded down $0.60 during midday trading on Thursday, hitting $37.79. 2,461,577 shares of the company traded hands, compared to its average volume of 3,896,507. Samsara Inc. has a twelve month low of $16.63 and a twelve month high of $40.54. The business has a 50 day simple moving average of $34.38 and a 200-day simple moving average of $30.39. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of -71.30 and a beta of 1.55.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IOT. Bank of New York Mellon Corp acquired a new position in shares of Samsara during the first quarter valued at about $558,000. PNC Financial Services Group Inc. grew its holdings in shares of Samsara by 141.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 20,170 shares of the company’s stock worth $322,000 after purchasing an additional 11,820 shares in the last quarter. BlackRock Inc. increased its position in shares of Samsara by 17.3% during the first quarter. BlackRock Inc. now owns 3,227,576 shares of the company’s stock valued at $51,704,000 after purchasing an additional 477,013 shares during the period. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 1,048,694 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in Samsara in the first quarter worth $3,109,000. 89.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IOT has been the topic of a number of research analyst reports. BMO Capital Markets lifted their target price on Samsara from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, December 1st. Wells Fargo & Company increased their target price on shares of Samsara from $32.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, December 1st. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. upped their target price on shares of Samsara from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, December 1st. Finally, Piper Sandler raised their price objective on Samsara from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, December 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Samsara currently has a consensus rating of “Hold” and a consensus target price of $31.56.

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.