Sara Bay Financial raised its holdings in shares of Samsara Inc. (NYSE:IOT – Free Report) by 2.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,289 shares of the company’s stock after purchasing an additional 4,518 shares during the quarter. Samsara makes up 3.5% of Sara Bay Financial’s holdings, making the stock its 9th biggest position. Sara Bay Financial’s holdings in Samsara were worth $8,031,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC acquired a new stake in shares of Samsara during the fourth quarter worth $13,464,000. abrdn plc lifted its holdings in shares of Samsara by 11.6% during the fourth quarter. abrdn plc now owns 4,792 shares of the company’s stock worth $210,000 after buying an additional 498 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Samsara by 22.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 459,416 shares of the company’s stock worth $20,072,000 after buying an additional 83,133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Samsara by 37.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,753 shares of the company’s stock worth $863,000 after buying an additional 5,410 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Samsara during the fourth quarter worth $1,521,000. Institutional investors and hedge funds own 96.02% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on IOT shares. BMO Capital Markets lifted their target price on Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, June 2nd. Raymond James initiated coverage on Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Wells Fargo & Company boosted their price target on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday. Truist Financial decreased their target price on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Finally, Wall Street Zen cut Samsara from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Samsara presently has an average rating of “Moderate Buy” and an average price target of $50.00.
Samsara Stock Performance
Shares of NYSE IOT opened at $45.21 on Friday. The company has a market capitalization of $25.74 billion, a P/E ratio of -96.19 and a beta of 1.74. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The company’s 50 day moving average price is $41.58 and its 200-day moving average price is $45.42.
Samsara (NYSE:IOT – Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $366.88 million for the quarter, compared to the consensus estimate of $351.44 million. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The company’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 EPS. Analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current year.
Insider Activity at Samsara
In related news, Director Jonathan Chadwick sold 22,500 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.72, for a total transaction of $871,200.00. Following the transaction, the director now owns 373,579 shares in the company, valued at $14,464,978.88. The trade was a 5.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjit Biswas sold 54,457 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $47.33, for a total transaction of $2,577,449.81. Following the transaction, the insider now owns 90,000 shares in the company, valued at $4,259,700. The trade was a 37.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,595,655 shares of company stock worth $64,985,532 in the last quarter. Company insiders own 60.04% of the company’s stock.
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.
See Also
- Five stocks we like better than Samsara
- What Are Dividend Champions? How to Invest in the Champions
- MarketBeat Week in Review – 06/02 – 06/06
- What is a Death Cross in Stocks?
- A Large Oil Supply Draw Could Mean Upside in These 3 Energy Names
- How to Buy Cheap Stocks Step by Step
- 3 Stocks Getting Rare Double Upgrades From Analysts
Receive News & Ratings for Samsara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Samsara and related companies with MarketBeat.com's FREE daily email newsletter.