We recently published a list of 10 Stocks Insiders Are Selling In March. In this article, we are going to take a look at where Samsara Inc. (NYSE:IOT) stands against other stocks Insiders are selling in March.
Wall Street experienced a challenging week, marked by turbulence as the broader market entered a correction, declining 10.1% from its record high in February. All three major indexes dropped between 2.3% and 3.1% over the week. However, Friday brought a little more optimism among investors as all three major indexes closed a bit higher. Blue-chip stocks closed 1.65% higher, the broader market index gained 2.13% and the NASDAQ Composite closed Friday session 2.61% higher.
This week continues to keep investors on their toes as the U.S. retail sales report, scheduled for release on Monday, will provide insights into consumer spending. According to Yahoo Finance, some experts believe investors will closely examine the report for signs of an economic slowdown. Experts polled by Dow Jones expect retail sales to have increased by 0.6% last month.
Investors are also closely watching for another significant update this week: the Federal Reserve’s decision on interest rates. Since September, the Fed has cut interest rates three times and still, the broader market entered a correction.
Examining recent insider trades can offer valuable insights, as executives often have a deeper understanding of their companies. For instance, when a CEO or CFO buys company stock, it may signal strong confidence in the business’s future.
However, insider selling doesn’t necessarily reflect a lack of confidence; it could be due to personal financial needs or a desire to diversify investments. These transactions are often executed through pre-arranged plans, like 10b5-1 plans, to avoid any appearance of improper timing. While insider activity can be informative, it’s important to consider it alongside the company’s financial health, market trends, and industry developments.
Our Methodology
To identify the 10 stocks insiders are selling in March we used Insider Monkey’s insider trading stock screener and looked for stocks where at least three insiders sold shares this month. With each stock, we note the number of insiders who recently sold shares and the company’s market capitalization.
Our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds, focusing on insider trading and stock picks from hedge fund investor newsletters and conferences. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
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Samsara Inc. (NYSE:IOT)
Number of Insiders Selling: 10
Market Capitalization: $21.36 billion
Samsara Inc. (NYSE:IOT) is a provider of Internet of Things (IoT) solutions. The San Francisco, California-headquartered company provides internet-connected sensor hardware and software solutions for industrial IoT applications and fleet management. Its Connected Operations Cloud enables organizations to integrate and analyze IoT data to advance operational efficiency, safety, and sustainability.
For the fiscal 2025, Samsara (NYSE:IOT) reported revenue of $1.25 billion, compared to $937.39 million in fiscal 2024. Net loss amounted to $154.91 million, compared to net loss of $286.73 million in the same period of the prior year.
Recently, the company announced CTC Manager, a new solution certified by the California Air Resources Board (CARB) to streamline emissions compliance for fleets navigating the state’s regulatory requirements. CTC Manager allows organizations to remotely collect emissions data and automate reporting processes, reducing downtime, administrative overhead, and expenses.
In March, 10 insiders, including the company’s CEO, sold a total of $56.82 million worth of Samsara shares at an average price of $38.46 per share. Currently, the stock trades at $38.06 per share, having declined 12.89% since the beginning of the year. Over the past 12 months, the company shares gained 3%.
According to 14 analysts’ estimates, Samsara (NYSE:IOT) is a “Moderate Buy” with an average price target of $51.67, writes TipRanks.
Overall, IOT ranks 6th on our list of stocks Insiders are selling in March. While we acknowledge the potential of IOT, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IOT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.