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Sanjit Biswas, CEO of Samsara Inc. (NYSE:IOT), recently executed a series of stock sales amounting to approximately $6.8 million. These transactions, carried out under a pre-established trading plan according to an SEC filing, come as the company maintains impressive gross profit margins of 76.2% despite showing high stock volatility with a beta of 1.63. According to InvestingPro analysis, the stock appears overvalued at its current market capitalization of $23.72 billion.
On March 25 and March 26, Biswas sold shares of Samsara’s Class A Common Stock in two separate batches. The first set of transactions involved the sale of 123,279 shares, generating around $5.36 million. The shares were sold at prices ranging from $41.7222 to $43.2182.
In a subsequent sale, Biswas disposed of an additional 10,000 shares, totaling approximately $1.4 million. These shares were sold at prices ranging from $41.4795 to $43.24.
Following these transactions, Biswas retains ownership of over 1.3 million shares, held indirectly through trusts. The sales were executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid potential conflicts of interest.
In other recent news, Samsara Inc reported robust financial results, with a 36% adjusted growth in the fourth quarter and a revenue beat of approximately 3.5%. The company’s annual recurring revenue increased by 32.3% year-over-year to $1.46 billion, surpassing consensus estimates. Despite this positive performance, Truist Securities adjusted Samsara’s stock price target to $42 from $50, maintaining a Hold rating due to anticipated tougher comparisons in fiscal year 2026. RBC Capital Markets also reduced its price target to $54 from $64, while maintaining an Outperform rating, citing strong performance and growth prospects. Meanwhile, TD Cowen revised its price target to $51 from $56, reiterating a Buy rating based on Samsara’s strategic customer engagements and financial consistency. Piper Sandler upgraded Samsara’s stock to Overweight, setting a price target of $50, highlighting the company’s resilience and growth potential in core fleet management. Additionally, Samsara announced a strategic partnership with Hyundai (OTC:HYMTF) Translead to deliver a factory-installed trailer monitoring system aimed at enhancing safety and operational efficiency for North American fleets. This collaboration is expected to provide fleet operators with real-time visibility and data-driven decision-making capabilities.
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