Samsara CEO Sanjit Biswas sells $4.4 million in stock

Samsara Inc. (NYSE:IOT) CEO Sanjit Biswas has sold a significant portion of his holdings in the company, according to a recent SEC filing. On April 8, Biswas offloaded shares in two separate transactions totaling approximately $4.4 million. The sales were executed at prices ranging from $34.5625 to $35.1392 per share. The transactions come as Samsara, currently valued at $22.47 billion, maintains impressive gross profit margins of 76.2%. InvestingPro analysis indicates the stock is trading above its Fair Value.

In a separate set of transactions, Biswas sold additional shares amounting to approximately $1.16 million. These transactions were completed at prices ranging from $35.0462 to $35.1463 per share. The stock sales were conducted under a pre-established Rule 10b5-1 trading plan, which allows company insiders to sell a predetermined number of shares at a scheduled time. The stock has shown significant volatility, with a beta of 1.71.

Following these transactions, Biswas retains ownership of over 1.5 million shares in Samsara. The sales were made through trusts over which Biswas has voting or investment power. For deeper insights into Samsara's valuation and financial health, including 12 additional ProTips and comprehensive analysis, visit InvestingPro.

In other recent news, Samsara Inc. reported robust fourth-quarter results, with a 36% adjusted growth and a revenue beat of approximately 3.5%, attributed to significant deal-making with both new and existing customers. The company has provided guidance for fiscal year 2026, projecting a 23-24% constant currency growth, aligning with analysts' expectations of 24%. Samsara's annual recurring revenue increased by 32.3% year-over-year to $1.46 billion, surpassing the consensus estimate. Meanwhile, RBC Capital Markets adjusted its price target for Samsara to $54 from $64, maintaining an Outperform rating, citing the company's strong momentum and sustained high growth. TD Cowen also revised its price target to $51 from $56, reiterating a Buy rating due to Samsara's consistent financial performance and strategic customer engagements. Piper Sandler upgraded Samsara's stock rating to Overweight, setting a price target of $50, emphasizing the company's potential for over 20% growth and increased market share. Truist Securities, however, reduced its price target to $42 from $50, while maintaining a Hold rating, expressing caution about potentially tougher comparisons in fiscal year 2026. Additionally, Samsara formed a strategic partnership with Hyundai (OTC:HYMTF) Translead to deliver a factory-installed trailer monitoring system, enhancing safety and operational efficiency for fleets.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.