Andar Capital Management HK Ltd Makes New Investment in Samsara Inc. (NYSE:IOT)

Andar Capital Management HK Ltd purchased a new position in shares of Samsara Inc. (NYSE:IOT) during the second quarter, Holdings Channel reports. The fund purchased 60,000 shares of the company’s stock, valued at approximately $2,022,000. Samsara accounts for approximately 2.8% of Andar Capital Management HK Ltd’s portfolio, making the stock its 15th biggest holding.

A number of other large investors also recently added to or reduced their stakes in IOT. Quarry LP purchased a new stake in shares of Samsara during the fourth quarter worth $37,000. National Bank of Canada FI purchased a new stake in shares of Samsara during the second quarter worth $38,000. Tradition Wealth Management LLC purchased a new stake in shares of Samsara during the fourth quarter worth $46,000. Ulland Investment Advisors LLC increased its position in shares of Samsara by 33.6% during the first quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock worth $75,000 after acquiring an additional 500 shares during the period. Finally, UniSuper Management Pty Ltd purchased a new position in Samsara in the first quarter valued at $94,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Performance

Shares of IOT opened at $47.59 on Wednesday. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $47.79. The company has a market capitalization of $26.21 billion, a price-to-earnings ratio of -95.18 and a beta of 1.50. The firm has a 50-day simple moving average of $39.68 and a 200-day simple moving average of $36.73.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. Equities research analysts forecast that Samsara Inc. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

IOT has been the topic of several recent analyst reports. TD Cowen increased their target price on Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Loop Capital increased their target price on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company increased their target price on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Bank of America increased their target price on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Samsara has an average rating of “Moderate Buy” and an average price target of $42.07.

Insider Transactions at Samsara

In related news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the sale, the chief executive officer now owns 1,466,299 shares in the company, valued at $43,241,157.51. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO James Andrew Munk sold 1,093 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the sale, the chief accounting officer now owns 319,667 shares in the company, valued at $15,123,445.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the completion of the sale, the chief executive officer now owns 1,466,299 shares of the company’s stock, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,858,859 shares of company stock worth $73,525,632. Company insiders own 60.04% of the company’s stock.

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.