Gc Venture Viii-B, Llc Sells 1,978 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT) major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $46.44, for a total transaction of $91,858.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Samsara Trading Up 3.8 %

Shares of NYSE IOT opened at $49.42 on Friday. The stock has a market cap of $27.22 billion, a price-to-earnings ratio of -98.84 and a beta of 1.50. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $49.56. The company has a 50 day simple moving average of $40.39 and a two-hundred day simple moving average of $36.97.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on IOT shares. Royal Bank of Canada lifted their price target on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Wolfe Research reiterated an “outperform” rating and issued a $44.00 target price on shares of Samsara in a report on Friday, June 28th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Truist Financial boosted their price objective on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Finally, Bank of America raised their target price on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.07.

Hedge Funds Weigh In On Samsara

Several large investors have recently made changes to their positions in IOT. Cim LLC purchased a new position in Samsara in the second quarter valued at $1,049,000. Nemes Rush Group LLC purchased a new position in shares of Samsara in the 2nd quarter valued at about $45,000. Creative Planning raised its holdings in Samsara by 16.1% in the 2nd quarter. Creative Planning now owns 147,457 shares of the company’s stock worth $4,969,000 after purchasing an additional 20,482 shares during the period. MBB Public Markets I LLC boosted its position in Samsara by 107.9% during the second quarter. MBB Public Markets I LLC now owns 13,266 shares of the company’s stock worth $447,000 after purchasing an additional 6,885 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in Samsara in the second quarter valued at approximately $745,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

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.