Zurcher Kantonalbank Zurich Cantonalbank Has $2.43 Million Stock Position in Samsara Inc. (NYSE:IOT)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Samsara Inc. (NYSE:IOT) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,419 shares of the company’s stock after acquiring an additional 5,921 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Samsara were worth $2,426,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Resources Management Corp CT ADV boosted its position in Samsara by 104.0% during 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 during the last quarter. National Bank of Canada FI bought a new stake in shares of Samsara during the 2nd quarter worth approximately $38,000. Nemes Rush Group LLC bought a new stake in shares of Samsara during the 2nd quarter worth approximately $45,000. UMB Bank n.a. raised its stake in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of analyst reports. Piper Sandler upped their price objective on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Loop Capital upped their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Royal Bank of Canada increased their price target on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Finally, Craig Hallum started coverage on Samsara in a research note on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.43.

Samsara Price Performance

IOT stock opened at $54.63 on Wednesday. The stock has a market capitalization of $30.39 billion, a price-to-earnings ratio of -113.81 and a beta of 1.53. The business’s fifty day moving average price is $50.09 and its two-hundred day moving average price is $42.14. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

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

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 12,500 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $45.00, for a total value of $562,500.00. Following the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at $20,968,515. This trade represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Bicket sold 75,600 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,225,284.00. Following the completion of the sale, the insider now directly owns 400,020 shares in the company, valued at $22,357,117.80. This trade represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,623,376 shares of company stock valued at $78,007,468. 60.04% of the stock is owned by corporate insiders.

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.