Swedbank AB Acquires 8,974 Shares of Samsara Inc. (NYSE:IOT)

Swedbank AB raised its holdings in shares of Samsara Inc. (NYSE:IOT) by 288.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,080 shares of the company’s stock after purchasing an additional 8,974 shares during the quarter. Swedbank AB’s holdings in Samsara were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IOT. Resources Management Corp CT ADV grew its stake 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 acquiring an additional 490 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after acquiring an additional 418 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Samsara in the 2nd quarter worth $38,000. Nemes Rush Group LLC bought a new stake in shares of Samsara in the 2nd quarter worth $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake 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.

Insider Buying and Selling

In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares in the company, valued at $15,123,445.77. This trade represents a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,809,695 shares of company stock worth $85,445,322. Insiders own 60.04% of the company’s stock.

Samsara Trading Down 3.0 %

Shares of Samsara stock opened at $53.73 on Thursday. Samsara Inc. has a 12-month low of $26.13 and a 12-month high of $57.51. The company has a market cap of $29.89 billion, a price-to-earnings ratio of -111.94 and a beta of 1.52. The company’s 50-day moving average price is $49.70 and its 200-day moving average price is $41.76.

Samsara (NYSE:IOT) last announced its quarterly 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. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, sell-side analysts predict that Samsara Inc. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IOT. Wells Fargo & Company upped their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Truist Financial boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Morgan Stanley boosted their price target on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted their price target on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Finally, Evercore ISI boosted their price target on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.67.

Samsara Profile

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.