Samsara Inc. (NYSE:IOT – Get Rating) CAO James Andrew Munk sold 7,496 shares of Samsara stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $12.25, for a total transaction of $91,826.00. Following the completion of the sale, the chief accounting officer now owns 309,820 shares of the company's stock, valued at $3,795,295. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Samsara Price Performance
Shares of Samsara stock opened at $12.39 on Tuesday. The company's fifty day moving average price is $14.60 and its two-hundred day moving average price is $13.64. Samsara Inc. has a 52-week low of $8.72 and a 52-week high of $31.41.
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Samsara (NYSE:IOT – Get Rating) last announced its quarterly earnings results on Wednesday, August 31st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.11. The business had revenue of $153.52 million during the quarter, compared to the consensus estimate of $143.70 million. As a group, research analysts anticipate that Samsara Inc. will post -0.56 EPS for the current year.
Institutional Investors Weigh In On Samsara
Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in Samsara by 61.6% in the 1st quarter. Royal Bank of Canada now owns 6,127 shares of the company's stock valued at $98,000 after buying an additional 2,335 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Samsara in the 2nd quarter worth about $33,000. Advisor Group Holdings Inc. bought a new stake in shares of Samsara in the 4th quarter worth about $93,000. Discovery Capital Management LLC CT grew its holdings in shares of Samsara by 2.0% in the 2nd quarter. Discovery Capital Management LLC CT now owns 250,000 shares of the company's stock worth $2,793,000 after purchasing an additional 4,792 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Samsara by 84.1% in the 1st quarter. Qube Research & Technologies Ltd now owns 21,727 shares of the company's stock worth $348,000 after purchasing an additional 9,927 shares during the last quarter. Institutional investors own 23.68% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on IOT shares. The Goldman Sachs Group cut shares of Samsara from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $27.00 to $16.00 in a research note on Monday, June 27th. Royal Bank of Canada boosted their price objective on shares of Samsara from $18.00 to $21.00 and gave the stock an "outperform" rating in a research note on Thursday, August 18th. Cowen reduced their price objective on shares of Samsara to $20.00 in a research note on Friday, May 27th. Evercore ISI boosted their price objective on shares of Samsara to $17.00 in a research note on Tuesday, September 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Samsara from $20.00 to $22.00 and gave the stock an "overweight" rating in a research note on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $24.44.
About Samsara
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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.
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