Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells $2,089,572.40 in Stock

Samsara Inc. (NYSE:IOT) insider Dominic Phillips sold 54,134 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.60, for a total value of $2,089,572.40. Following the transaction, the insider now directly owns 638,642 shares in the company, valued at approximately $24,651,581.20. This represents a 7.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dominic Phillips also recently made the following trade(s):

• On Monday, February 3rd, Dominic Phillips sold 20,801 shares of Samsara stock. The stock was sold at an average price of $50.97, for a total value of $1,060,226.97.

Samsara Price Performance

Shares of IOT opened at $40.26 on Friday. The stock’s 50-day moving average is $47.80 and its two-hundred day moving average is $48.03. The stock has a market cap of $22.59 billion, a PE ratio of -85.65 and a beta of 1.63. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IOT. NewEdge Advisors LLC lifted its stake in shares of Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 414 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Samsara during the fourth quarter worth about $31,000. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara during the third quarter worth about $34,000. IFP Advisors Inc increased its position in shares of Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after acquiring an additional 598 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Samsara during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IOT. Wells Fargo & Company reduced their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a research note on Monday, March 10th. Berenberg Bank began coverage on Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 price target on the stock. Cowen reaffirmed a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Finally, Piper Sandler raised Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price on the stock in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.60.

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.