Samsara Inc. (NYSE:IOT - Get Free Report)'s stock price gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $55.13, but opened at $52.53. Samsara shares last traded at $52.95, with a volume of 2,793,780 shares traded.
Specifically, insider John Bicket sold 83,091 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,471,126.71. Following the completion of the transaction, the insider now directly owns 19,200 shares of the company's stock, valued at $1,033,152. This trade represents a 81.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Sanjit Biswas sold 83,333 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $53.81, for a total value of $4,484,148.73. Following the completion of the transaction, the insider now directly owns 19,200 shares of the company's stock, valued at $1,033,152. The trade was a 81.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider John Bicket sold 96,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $55.75, for a total value of $5,352,000.00. Following the completion of the transaction, the insider now directly owns 931,400 shares of the company's stock, valued at $51,925,550. This trade represents a 9.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Several equities analysts have weighed in on the company. Morgan Stanley raised their price target on Samsara from $40.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th. Craig Hallum assumed coverage on Samsara in a research report on Tuesday, October 22nd. They set a "hold" rating and a $48.00 price target for the company. Evercore ISI raised their price target on Samsara from $40.00 to $42.00 and gave the stock an "in-line" rating in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on Samsara from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Finally, Piper Sandler raised their price target on Samsara from $40.00 to $50.00 and gave the stock a "neutral" rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $51.00.
Get Our Latest Research Report on Samsara
The stock has a market cap of $29.30 billion, a price-to-earnings ratio of -110.31 and a beta of 1.53. The stock has a fifty day moving average of $50.35 and a two-hundred day moving average of $42.33.
Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same period last year, the company posted ($0.11) earnings per share. The firm's revenue was up 36.9% compared to the same quarter last year. Equities research analysts anticipate that Samsara Inc. will post -0.34 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. purchased a new position in Samsara in the third quarter valued at about $10,868,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Samsara during the third quarter worth about $546,000. Virtu Financial LLC purchased a new stake in shares of Samsara during the third quarter worth about $1,689,000. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara during the third quarter worth about $34,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Samsara by 2.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 149,789 shares of the company's stock worth $7,208,000 after acquiring an additional 3,000 shares during the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.
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.
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