Insider Selling: Samsara Inc. (NYSE:IOT) Insider Sells 54,134 Shares of Stock

Samsara Inc. (NYSE:IOT - Get Free Report) insider Dominic Phillips sold 54,134 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.60, for a total value of $2,089,572.40. Following the completion of the sale, the insider now directly owns 638,642 shares of the company's stock, valued at $24,651,581.20. This represents a 7.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $1,060,226.97.

Samsara Trading Up 1.9 %

Shares of Samsara stock traded up $0.77 during midday trading on Friday, reaching $40.26. The company had a trading volume of 7,499,106 shares, compared to its average volume of 3,546,326. The stock has a fifty day simple moving average of $47.80 and a 200 day simple moving average of $48.09. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90. The company has a market capitalization of $22.59 billion, a price-to-earnings ratio of -85.65 and a beta of 1.63.

Institutional Investors Weigh In On Samsara

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after acquiring an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC acquired a new position in Samsara during the 4th quarter valued at about $112,041,000. Norges Bank acquired a new stake in shares of Samsara during the 4th quarter worth approximately $106,274,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after buying an additional 2,148,081 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in Samsara by 1,909.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock valued at $90,026,000 after buying an additional 1,777,757 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts recently weighed in on IOT shares. Berenberg Bank started coverage on shares of Samsara in a research note on Monday, February 3rd. They issued a "hold" rating and a $57.00 target price for the company. Royal Bank of Canada cut their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Wells Fargo & Company decreased their price objective on Samsara from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Piper Sandler upgraded Samsara from a "neutral" rating to an "overweight" rating and set a $50.00 target price for the company in a research note on Monday, March 10th. Finally, Truist Financial decreased their price target on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Samsara has an average rating of "Moderate Buy" and a consensus target price 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.