Samsara Inc. (NYSE:IOT) Director Marc L. Andreessen Sells 399,026 Shares

Samsara Inc. (NYSE:IOT) Director Marc L. Andreessen sold 399,026 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total value of $16,491,744.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Samsara Price Performance

Shares of NYSE:IOT opened at $42.32 on Thursday. The company has a market capitalization of $24.09 billion, a PE ratio of -90.04 and a beta of 1.74. The business has a fifty day moving average price of $42.04 and a two-hundred day moving average price of $45.18. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. Samsara had a negative return on equity of 19.44% and a negative net margin of 21.80%. The business’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. Sell-side analysts anticipate that Samsara Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IOT. BMO Capital Markets upped their target price on Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Cowen reaffirmed a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Craig Hallum reissued a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Morgan Stanley lowered their price target on Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $53.00 price target (up from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. grew its stake in shares of Samsara by 7.1% during the 1st quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company’s stock worth $1,352,186,000 after acquiring an additional 2,348,101 shares during the period. Vanguard Group Inc. lifted its holdings in Samsara by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company’s stock worth $900,581,000 after purchasing an additional 2,516,882 shares in the last quarter. FMR LLC lifted its holdings in Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after purchasing an additional 2,852,575 shares in the last quarter. Jennison Associates LLC lifted its holdings in Samsara by 1,881.8% during the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company’s stock worth $450,881,000 after purchasing an additional 11,169,571 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Samsara by 20.1% during the 1st quarter. Invesco Ltd. now owns 4,174,153 shares of the company’s stock worth $159,995,000 after purchasing an additional 697,208 shares in the last quarter. Institutional investors 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.