Samsara Inc. (NYSE:IOT) Stake Raised by Fmr LLC

Fmr LLC boosted its holdings in Samsara Inc. (NYSE:IOT) by 15.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,890,600 shares of the company’s stock after acquiring an additional 1,604,822 shares during the quarter. Fmr LLC owned about 2.14% of Samsara worth $572,176,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank raised its position in Samsara by 3.1% in the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after acquiring an additional 18,400 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after buying an additional 10,452 shares during the period. Bank of Montreal Can acquired a new stake in Samsara during the 2nd quarter worth about $537,000. Magnetar Financial LLC acquired a new stake in Samsara during the 2nd quarter worth about $1,240,000. Finally, RFG Advisory LLC raised its holdings in Samsara by 41.5% during the 2nd quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock worth $421,000 after buying an additional 3,662 shares during the period. 89.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 93,107 shares of Samsara stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the completion of the transaction, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. This trade represents a 54.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Bicket sold 93,212 shares of Samsara stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,721,023.04. Following the transaction, the insider now directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. The trade was a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,809,695 shares of company stock valued at $85,445,322 over the last ninety days. 60.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Loop Capital boosted their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler upped their target price on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. BNP Paribas started coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price on the stock. Morgan Stanley upped their target price on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada increased their price objective on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.67.

Samsara Trading Down 3.0 %

IOT opened at $53.74 on Friday. Samsara Inc. has a 1-year low of $26.13 and a 1-year high of $57.51. The stock has a market capitalization of $29.90 billion, a price-to-earnings ratio of -111.96 and a beta of 1.52. The business has a 50 day moving average of $49.83 and a 200-day moving average of $41.84.

Samsara (NYSE:IOT) last posted its quarterly earnings data 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 company had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the prior year, the business earned ($0.11) earnings per share. Samsara’s revenue for the quarter was up 36.9% compared to the same quarter last year. Equities analysts predict that Samsara Inc. will post -0.34 EPS for the current year.

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.