Samsara (NYSE:IOT) Shares Gap Down After Insider Selling

Samsara Inc. (NYSE:IOT)’s stock price gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $40.15, but opened at $38.50. Samsara shares last traded at $38.3310, with a volume of 2,550,508 shares trading hands.

Specifically, insider Dominic Phillips sold 17,909 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $44.25, for a total value of $792,473.25. Following the completion of the sale, the insider directly owned 1,019,363 shares of the company’s stock, valued at $45,106,812.75. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dominic Phillips sold 11,710 shares of Samsara stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $44.25, for a total transaction of $518,167.50. Following the completion of the transaction, the insider owned 836,100 shares of the company’s stock, valued at $36,997,425. The trade was a 1.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IOT shares. Bank of America boosted their price objective on Samsara from $47.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, September 4th. BMO Capital Markets raised their price objective on Samsara from $44.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, September 4th. Jefferies Financial Group upgraded shares of Samsara to a “buy” rating in a report on Thursday, June 11th. Truist Financial upped their target price on shares of Samsara from $38.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, September 4th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $54.00 price target on shares of Samsara in a research report on Friday, September 4th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.44.

Samsara Price Performance

The firm has a market cap of $22.40 billion, a P/E ratio of 240.29, a price-to-earnings-growth ratio of 9.52 and a beta of 1.35. The company’s 50-day simple moving average is $38.22 and its 200 day simple moving average is $33.62.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, September 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. Samsara had a return on equity of 4.13% and a net margin of 4.90%.The business had revenue of $508.44 million for the quarter, compared to the consensus estimate of $483.29 million. During the same period in the prior year, the business posted $0.12 earnings per share. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. Analysts anticipate that Samsara Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Samsara

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in shares of Samsara by 3,119.1% during the second quarter. California State Teachers Retirement System now owns 15,704,422 shares of the company’s stock valued at $484,256,000 after purchasing an additional 15,216,568 shares during the period. Goldman Sachs Group Inc. increased its stake in Samsara by 58.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 11,878,112 shares of the company’s stock worth $421,079,000 after buying an additional 4,401,082 shares during the period. Norges Bank purchased a new position in Samsara in the 4th quarter worth about $127,415,000. Brown Advisory Inc. lifted its holdings in Samsara by 42.1% during the 4th quarter. Brown Advisory Inc. now owns 11,213,972 shares of the company’s stock valued at $397,536,000 after buying an additional 3,322,023 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Samsara by 97.1% during the 4th quarter. Wellington Management Group LLP now owns 6,269,398 shares of the company’s stock valued at $222,250,000 after buying an additional 3,088,299 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

About Samsara

Samsara, Inc is a technology company that provides a cloud-based Connected Operations Platform for organizations that rely on physical operations. Its platform helps businesses monitor vehicles, equipment, worksites and employees, while using connected devices, software and data analytics to improve safety, efficiency and productivity.

The company’s products and services include vehicle telematics, GPS tracking, electronic logging and fleet management tools; video-based safety and security systems; equipment and asset monitoring; workforce and workflow management applications; and tools for dispatching, routing, maintenance and site visibility.