Octahedron Capital Management L.P. Buys Shares of 16,250 Samsara Inc. (NYSE:IOT)

Octahedron Capital Management L.P. purchased a new position in shares of Samsara Inc. (NYSE:IOT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,250 shares of the company’s stock, valued at approximately $548,000. Samsara makes up 0.5% of Octahedron Capital Management L.P.’s holdings, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Baillie Gifford & Co. boosted its holdings in shares of Samsara by 18.1% during the second 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 last quarter. 1832 Asset Management L.P. grew its holdings in Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after buying an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 valued at $666,584,000 after acquiring an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Samsara in the second quarter worth approximately $29,464,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the transaction, the chief executive officer now owns 1,466,299 shares in the company, valued at $43,241,157.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the transaction, the chief accounting officer now directly owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the completion of the sale, the chief executive officer now owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. Insiders sold 2,049,232 shares of company stock worth $82,346,868 over the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Loop Capital upped their price target on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Truist Financial increased their target price on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Piper Sandler boosted their price target on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a research note on Friday, June 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Samsara presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Samsara Stock Up 3.8 %

Shares of NYSE:IOT opened at $49.42 on Friday. The company has a market capitalization of $27.22 billion, a price-to-earnings ratio of -98.84 and a beta of 1.50. The company has a 50 day moving average of $40.39 and a two-hundred day moving average of $36.97. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $49.56.

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

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.