Penserra Capital Management LLC Has $2.79 Million Position in Samsara Inc. (NYSE:IOT)

Penserra Capital Management LLC increased its holdings in Samsara Inc. (NYSE:IOT) by 147.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,934 shares of the company’s stock after purchasing an additional 34,525 shares during the period. Penserra Capital Management LLC’s holdings in Samsara were worth $2,787,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Resources Management Corp CT ADV grew its holdings in shares of Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the last quarter. UMB Bank n.a. grew its stake in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Samsara during the second quarter worth approximately $38,000. Nemes Rush Group LLC acquired a new stake in shares of Samsara during the second quarter worth approximately $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on IOT. Craig Hallum assumed coverage on Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target for the company. BNP Paribas assumed coverage on Samsara in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price for the company. Evercore ISI upped their price target on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Truist Financial raised their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Finally, Bank of America upped their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.67.

Insider Transactions at Samsara

In other news, CEO Sanjit Biswas sold 93,107 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,716,831.44. Following the completion of the transaction, the chief executive officer now owns 76,800 shares in the company, valued at $3,065,856. This trade represents a 54.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the sale, the chief accounting officer now owns 319,667 shares in the company, valued at $15,123,445.77. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,658,501 shares of company stock valued at $76,995,090 in the last ninety days. 60.04% of the stock is currently owned by corporate insiders.

Samsara Price Performance

Shares of NYSE:IOT opened at $55.50 on Tuesday. The firm’s 50 day simple moving average is $49.43 and its 200 day simple moving average is $41.56. Samsara Inc. has a fifty-two week low of $26.13 and a fifty-two week high of $57.51. The company has a market capitalization of $30.88 billion, a price-to-earnings ratio of -115.63 and a beta of 1.52.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. Samsara’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. Equities research analysts expect that Samsara Inc. will post -0.34 earnings per share for the current year.

About Samsara

Samsara Inc provides solutions that connects physical operations data to its connected operations cloud in the United States and internationally. The company's Connected Operations Cloud includes Data Platform, which ingests, aggregates, and enriches data from its IoT devices and has embedded capabilities for AI, workflows and analytics, alerts, API connections, and data security and privacy.