Spire Wealth Management Takes Position in Samsara Inc. (NYSE:IOT)

Spire Wealth Management acquired a new position in Samsara Inc. (NYSE:IOT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,200 shares of the company’s stock, valued at approximately $276,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Boulder Hill Capital Management LP acquired a new position in shares of Samsara during the fourth quarter worth approximately $1,115,000. Charles Schwab Investment Management Inc. boosted its position in Samsara by 9.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock worth $32,360,000 after acquiring an additional 79,773 shares during the period. CHURCHILL MANAGEMENT Corp grew its stake in shares of Samsara by 135.6% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after purchasing an additional 34,679 shares in the last quarter. Mission Wealth Management LP bought a new position in shares of Samsara in the first quarter worth $1,100,000. Finally, Quarry LP acquired a new position in shares of Samsara during the fourth quarter valued at $37,000. Institutional investors own 89.39% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sanjit Biswas sold 84,030 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the completion of the sale, the chief executive officer now owns 806,269 shares in the company, valued at approximately $33,814,921.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Sanjit Biswas sold 84,030 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total value of $3,524,218.20. Following the completion of the sale, the chief executive officer now directly owns 806,269 shares in the company, valued at $33,814,921.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The disclosure for this sale can be found here. Insiders have sold 1,615,535 shares of company stock valued at $57,041,330 over the last three months. 60.04% of the stock is currently owned by insiders.

Samsara Stock Down 4.5 %

Samsara stock opened at $39.21 on Wednesday. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $42.49. The stock has a market cap of $21.60 billion, a P/E ratio of -78.42 and a beta of 1.49. The company’s fifty day simple moving average is $37.64 and its 200-day simple moving average is $35.92.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $280.73 million for the quarter, compared to analyst estimates of $272.51 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. On average, equities research analysts expect that Samsara Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IOT shares. Wolfe Research reaffirmed an “outperform” rating and set a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. BMO Capital Markets reissued a “market perform” rating and set a $40.00 target price on shares of Samsara in a research note on Tuesday, June 11th. Evercore ISI dropped their price target on Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a report on Friday, June 7th. Piper Sandler reiterated a “neutral” rating and set a $36.00 price objective on shares of Samsara in a research report on Friday, June 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $47.00 target price on shares of Samsara in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.83.

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.