Samsara Inc. (NYSE:IOT) Shares Purchased by Rakuten Securities Inc.

Rakuten Securities Inc. lifted its position in Samsara Inc. (NYSE:IOT) by 1,434.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,088 shares of the company’s stock after acquiring an additional 55,236 shares during the period. Samsara accounts for approximately 1.1% of Rakuten Securities Inc.’s investment portfolio, making the stock its 23rd biggest holding. Rakuten Securities Inc.’s holdings in Samsara were worth $2,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IOT. NewEdge Advisors LLC grew its position in Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 414 shares during the period. Jones Financial Companies Lllp acquired a new stake in Samsara in the 4th quarter worth about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Samsara in the 1st quarter worth approximately $31,000. IFP Advisors Inc lifted its stake in Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after purchasing an additional 598 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in Samsara in the 4th quarter worth approximately $38,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Down 0.3%

Shares of Samsara stock opened at $39.09 on Tuesday. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The company’s 50-day simple moving average is $42.39 and its 200-day simple moving average is $44.74. The firm has a market cap of $22.25 billion, a price-to-earnings ratio of -83.16 and a beta of 1.74.

Samsara (NYSE:IOT) 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. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The business had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same period in the previous year, the business posted $0.03 earnings per share. The business’s revenue was up 30.7% compared to the same quarter last year. Equities research analysts anticipate that Samsara Inc. will post -0.3 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IOT. Royal Bank of Canada cut their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Truist Financial dropped their price target on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective (up from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Raymond James began coverage on shares of Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating for the company. Finally, BMO Capital Markets boosted their price target on shares of Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a research report on Monday, June 2nd. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Buying and Selling

In other news, Director Marc L. Andreessen sold 399,026 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total value of $16,491,744.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 11,343 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $39.76, for a total transaction of $450,997.68. Following the completion of the sale, the insider now owns 271,922 shares in the company, valued at $10,811,618.72. This represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,060,283 shares of company stock valued at $86,586,131. 46.49% of the stock is owned by insiders.

Samsara 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.