Daiwa Securities Group Inc. Boosts Stock Position in Samsara Inc. (NYSE:IOT)

Daiwa Securities Group Inc. lifted its position in Samsara Inc. (NYSE:IOT) by 15.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,000 shares of the company’s stock after buying an additional 1,900 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Samsara were worth $472,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Baillie Gifford & Co. increased its holdings in Samsara by 18.1% during the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after purchasing an additional 4,207,974 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after acquiring an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after acquiring an additional 1,841,149 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after acquiring an additional 3,853,400 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after acquiring an additional 243,170 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Samsara Price Performance

NYSE:IOT opened at $46.95 on Tuesday. The business’s 50-day moving average is $39.43 and its two-hundred day moving average is $36.64. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $47.79. The firm has a market capitalization of $25.86 billion, a PE ratio of -93.90 and a beta of 1.50.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. During the same period in the previous year, the company earned ($0.11) earnings per share. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. Equities analysts anticipate that Samsara Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In related news, insider Lara Caimi sold 7,508 shares of Samsara stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the transaction, the insider now directly owns 1,093,535 shares in the company, valued at $50,761,894.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the sale, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at $15,123,445.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lara Caimi sold 7,508 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the transaction, the insider now directly owns 1,093,535 shares in the company, valued at approximately $50,761,894.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,858,859 shares of company stock worth $73,525,632. Corporate insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. TD Cowen upped their target price on Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Truist Financial upped their price objective on Samsara from $35.00 to $40.00 and gave the company a “hold” 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 company a “buy” rating in a research note on Friday, September 6th. Royal Bank of Canada upped their price objective on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Finally, Bank of America increased their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.07.

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.