FORA Capital LLC Acquires New Position in Samsara Inc. (NYSE:IOT)

FORA Capital LLC acquired a new stake in shares of Samsara Inc. (NYSE:IOT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 76,566 shares of the company’s stock, valued at approximately $3,684,000.

Several other hedge funds also recently made changes to their positions in IOT. Baillie Gifford & Co. raised its position in shares of Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after acquiring an additional 6,411,178 shares in the last quarter. FMR LLC raised its holdings in shares of Samsara by 15.6% during the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after purchasing an additional 1,604,822 shares during the period. 1832 Asset Management L.P. raised its holdings in shares of Samsara by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after purchasing an additional 500,400 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Samsara by 4.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock worth $168,741,000 after buying an additional 138,702 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Samsara by 55.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock valued at $88,013,000 after buying an additional 650,982 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

Samsara Price Performance

NYSE:IOT traded down $1.30 during midday trading on Wednesday, hitting $54.09. 397,979 shares of the stock were exchanged, compared to its average volume of 3,518,279. The business has a 50-day moving average price of $49.58 and a two-hundred day moving average price of $41.67. Samsara Inc. has a one year low of $26.13 and a one year high of $57.51.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating 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 business had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter last year, the business posted ($0.11) earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis. Equities research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

IOT has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Loop Capital raised their price target on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada upped their price objective on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Bank of America raised their target price on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, TD Cowen increased their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Samsara currently has an average rating of “Hold” and an average target price of $45.67.

Insider Buying and Selling

In other news, insider John Bicket sold 75,600 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $55.89, for a total transaction of $4,225,284.00. Following the sale, the insider now directly owns 400,020 shares of the company’s stock, valued at $22,357,117.80. The trade was a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjit Biswas sold 75,594 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the sale, the chief executive officer now directly owns 120,292 shares of the company’s stock, valued at approximately $6,723,119.88. This represents a 38.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,809,695 shares of company stock worth $85,445,322 in the last ninety days. 60.04% of the stock is currently owned by corporate insiders.

Samsara Company 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.