Samsara’s chief legal officer sells shares worth $487,261

Adam Eltoukhy, the Executive Vice President, Chief Legal Officer, and Secretary at Samsara Inc. (NYSE:IOT), recently executed a series of stock sales. On February 20, Eltoukhy sold a total of 8,843 shares of Samsara’s Class A common stock. The transactions were conducted at prices ranging from $52.59 to $57.58 per share, resulting in a total sale value of approximately $487,261. The sales come as Samsara, currently valued at $33.09 billion, has seen its stock surge over 58% in the past year, according to InvestingPro data.

These sales were made under a Rule 10b5-1 trading plan, which Eltoukhy adopted on September 20, 2024. Following these transactions, Eltoukhy holds 331,106 shares directly. Additionally, certain shares are held indirectly by the ES Trust, for which Eltoukhy has voting or investment power. Despite a recent 10% decline over the past week, InvestingPro analysis shows 14 analysts have revised their earnings estimates upward for the upcoming period. Get detailed insights and 10+ additional ProTips with an InvestingPro subscription.

In other recent news, Samsara Inc. reported its third fiscal quarter results, which met analyst predictions and exceeded typical estimates. Despite this, Piper Sandler maintained a Neutral rating on the stock but increased its price target from $40.00 to $50.00, noting that the company’s guidance for the next quarter was in line with previous projections. Meanwhile, Berenberg initiated coverage on Samsara with a Hold rating and a price target of $57.00, acknowledging the company’s strong market position but expressing caution about its stock potential. Samsara also announced a significant partnership with Mobilisights, Stellantis (NYSE:STLA)’ Data as a Service platform, to provide hardware-free access to vehicle telematics data for European fleet management. This integration aims to enhance operational efficiencies by leveraging Stellantis’ built-in telematics hardware.

Furthermore, Samsara’s CEO Sanjit Biswas and CTO John Bicket have initiated pre-arranged stock trading plans for their family trusts, set to begin in January 2025. These plans are designed to minimize market impact and comply with insider trading policies. Piper Sandler’s recent analysis of Samsara highlighted the company’s stable Net Revenue Retention rate and potential in international markets, despite some concerns about its current valuation. The analysis also pointed out the underutilized potential in Samsara’s video safety segment and the Asset Tags market. These developments reflect Samsara’s ongoing efforts to expand its market presence and enhance its product offerings.

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