Oklo stock tumbles as Financial Times scrutinizes valuation
Sanjit Biswas, Chief Executive Officer of Samsara Inc. (NYSE:IOT), sold a total of $6.2 million in Class A Common Stock on September 23 and 24. The sales, executed in multiple transactions, saw prices ranging from $37.5378 to $39.4434 per share. The company, currently valued at $21.2 billion, has shown impressive revenue growth of 30% and maintains strong gross profit margins of 77%. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
According to a Form 4 filing with the Securities and Exchange Commission, Biswas sold 125,590 shares for $4.9 million on September 23. These shares were sold at prices ranging from $38.395 to $39.4434. On September 23, Biswas also sold 33,000 shares for $1.3 million, at prices ranging from $39.0425 to $39.3038. InvestingPro data shows the stock has been notably volatile, with 16 analysts recently revising their earnings expectations upward. Subscribers can access 8 additional exclusive ProTips about IOT’s financial health and growth prospects.
The filing also indicates that on September 23, Biswas converted 513,000 shares of Class B Common Stock to Class A Common Stock. In addition, 513,000 shares of Class A Common Stock were gifted.
In other recent news, Samsara Inc. reported quarterly results that surpassed expectations, with annual recurring revenue (ARR) growing by 29.8% year-over-year to $1.640 billion, exceeding consensus estimates. This strong financial performance has led to several analysts adjusting their price targets for the company. Truist Securities raised its price target to $39, maintaining a Hold rating, while Morgan Stanley adjusted its target to $53, keeping an Equalweight rating. Piper Sandler also increased its price target to $48, citing re-acceleration in Net New Annual Recurring Revenue (NNARR) that exceeded expectations, and maintained an Overweight rating. Additionally, William Blair reiterated an Outperform rating, highlighting the company’s accelerated NNARR momentum and sustained operating performance.
In other developments, Samsara expanded its AI-powered safety platform with new tools aimed at helping fleet operators reduce risk. The new features include Weather Intelligence, which provides real-time weather data and alerts to help manage severe weather conditions affecting drivers. These updates reflect Samsara’s ongoing efforts to enhance its platform capabilities.
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