Samsara CEO Sells 114,813 Shares in $4.98 Million Transaction
Sanjit Biswas cut his direct holding by 79.07%, to 30,400 shares, in a sale made under a pre-arranged Rule 10b5-1 trading plan.
· 1 min read
Samsara Inc. chief executive Sanjit Biswas sold 114,813 shares of the company's stock on October 27 at an average price of $43.38, a transaction worth $4,980,587.94, according to MarketBeat, citing a filing with the Securities and Exchange Commission.
The sale left Biswas with 30,400 shares held directly, valued at $1,318,752, a 79.07% reduction in that position. The trade was made under a pre-arranged Rule 10b5-1 plan.
It was part of a run of sales by the chief executive. He sold 108,212 shares on October 28 for $4,649,869.64 and 40,875 shares on October 29 for $1,699,173.75, following sales earlier in October and in September and August.
Samsara shares traded down $1.50 on October 29, to $41.51, against a 52-week range of $23.38 to $47.47 and a market capitalization of $24.31 billion.
The company reported quarterly results on September 3, with earnings of $0.20 a share against analyst estimates of $0.16 and revenue of $508.44 million, up 29.9% from a year earlier. Institutional investors and hedge funds hold 96.02% of the stock. Analysts' consensus rating is "Moderate Buy," with an average price target of $51.68.
Samsara sells connected-operations technology, including vehicle telematics, GPS fleet tracking and AI-enabled dash cameras.
This story was first reported by MarketBeat.
Comments