Insider Selling: Samsara Inc. (NYSE:IOT) Major Shareholder Sells 292,931 Shares of Stock

Samsara Inc. (NYSE:IOT) major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Samsara Stock Performance

Shares of Samsara stock traded up $2.12 on Wednesday, hitting $38.02. The company’s stock had a trading volume of 7,391,813 shares, compared to its average volume of 3,766,627. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of -80.88 and a beta of 1.63. The firm has a fifty day moving average price of $48.67 and a 200-day moving average price of $48.27. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90.

Wall Street Analyst Weigh In

IOT has been the topic of a number of recent research reports. Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Loop Capital raised their price objective on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. increased their price target on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target on the stock in a report on Monday. Finally, Royal Bank of Canada cut their target price on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

Institutional Trading of Samsara

Institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its holdings in shares of Samsara by 77.5% during the third quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $91,000 after buying an additional 821 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Samsara by 2.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 78,287 shares of the company’s stock worth $3,767,000 after purchasing an additional 2,114 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares during the period. Rakuten Securities Inc. raised its holdings in shares of Samsara by 100.4% in the 3rd quarter. Rakuten Securities Inc. now owns 46,903 shares of the company’s stock valued at $2,257,000 after buying an additional 23,495 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Samsara by 4.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,283 shares of the company’s stock valued at $18,107,000 after purchasing an additional 16,528 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

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.