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SAN FRANCISCO—Dominic Phillips, Executive Vice President and Chief Financial Officer of Samsara Inc. (NYSE:IOT), recently sold shares of the company’s Class A common stock valued at approximately $709,430, according to a regulatory filing with the Securities and Exchange Commission.
The transactions, executed on March 10, were part of a pre-established Rule 10b5-1 trading plan. Phillips sold a total of 20,801 shares in two separate transactions. The shares were sold at prices ranging from $33.02 to $34.84 per share.
Following these transactions, Phillips holds 755,001 shares of Samsara’s Class A common stock directly. Additionally, he indirectly holds 1,061,816 shares through the Phillips Family Trust, which he co-manages with his spouse.
Samsara, a leader in Internet of Things (IoT) solutions, continues to expand its market presence, providing integrated systems for various industries.
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 also announced a 33% constant currency increase in Annual Recurring Revenue (ARR) and a 25% rise in revenue, which further scaled to 36% after adjusting for an extra week in the reporting period. Samsara’s guidance for fiscal year 2026 predicts a 23-24% constant currency growth, aligning with the Street’s expectation of 24%. Piper Sandler upgraded Samsara’s stock rating to Overweight, setting a price target of $50, citing the company’s potential for over 20% growth and its increasing market share in core fleet management. Meanwhile, TD Cowen maintained a Buy rating, adjusting its price target to $51, emphasizing Samsara’s consistent financial performance and strategic customer engagements. RBC Capital Markets reduced its price target to $54 from $64 but maintained an Outperform rating, highlighting Samsara’s strong momentum and improvements in their product and go-to-market strategies. Truist Securities lowered its price target to $42 from $50, maintaining a Hold rating, while noting the company’s success in acquiring large customers and strong performance in new business and expansion. Additionally, Samsara formed a strategic partnership with Hyundai (OTC:HYMTF) Translead to deliver a factory-installed trailer monitoring system aimed at improving safety, security, and operational efficiency for North American fleets.
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