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Adam Eltoukhy, Executive Vice President, Chief Legal Officer, and Secretary of Samsara Inc. (NYSE:IOT), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Eltoukhy sold shares totaling approximately $1,113,971. The sales, executed on March 7 and March 10, 2025, were part of a pre-arranged trading plan. The timing is notable as the stock has experienced significant volatility, with InvestingPro data showing a 23% decline in the past week.
The transactions on March 7 involved multiple sales of Samsara’s Class A Common Stock, with prices ranging from $35.08 to $38.76 per share. These sales amounted to the bulk of the transaction value. On March 10, additional shares were sold at prices between $33.51 and $35.62, generating an additional $132,967.
Following these transactions, Eltoukhy retains ownership of 320,936 shares directly, alongside shares held indirectly through a trust. The sales were reportedly carried out to cover tax obligations related to restricted stock units (RSUs) awarded to Eltoukhy.
Samsara Inc., based in San Francisco, specializes in computer-integrated systems design, offering technology solutions to enhance operational efficiency and safety for its clients. The company has demonstrated robust growth with revenue increasing 33% year-over-year, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
In other recent news, Samsara Inc. reported strong financial results, with a 36% adjusted growth in the fourth quarter and a revenue beat of approximately 3.5%, as highlighted by TD Cowen. The company also saw a 33% increase in Annual Recurring Revenue (ARR), with RBC Capital noting a 25% rise in revenue, which scaled to 36% in constant currency. Despite these robust figures, Truist Securities adjusted its price target for Samsara to $42 from $50, maintaining a Hold rating due to a slowdown in net new ARR growth. Meanwhile, RBC Capital reduced its price target to $54 from $64, although it retained an Outperform rating, citing strong enterprise sector performance and product improvements.
Samsara’s strategic partnership with Hyundai (OTC:HYMTF) Translead aims to enhance trailer safety and operational efficiency through an integrated monitoring system. Piper Sandler upgraded Samsara’s stock rating to Overweight with a price target of $50, citing the company’s potential for over 20% growth and a favorable risk-reward balance. The firm emphasized Samsara’s market share growth and opportunities for cross-selling its solutions. Despite varying price target adjustments, analysts generally maintain a positive outlook on Samsara’s growth prospects and strategic initiatives.
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