Lombard Odier Asset Management USA Corp Invests $525,000 in Samsara Inc. (NYSE:IOT)

Lombard Odier Asset Management USA Corp acquired a new stake in shares of Samsara Inc. (NYSE:IOT) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,574 shares of the company’s stock, valued at approximately $525,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boulder Hill Capital Management LP acquired a new position in shares of Samsara during the 4th quarter valued at $1,115,000. CHURCHILL MANAGEMENT Corp raised its position in 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 acquiring an additional 34,679 shares in the last quarter. Mission Wealth Management LP acquired a new stake in Samsara in the 1st quarter valued at about $1,100,000. Quarry LP bought a new position in shares of Samsara during the 4th quarter valued at about $37,000. Finally, Norges Bank acquired a new position in shares of Samsara in the 4th quarter worth approximately $11,693,000. Institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IOT. Truist Financial raised their target price on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Piper Sandler raised their price objective on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. boosted their target price on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets lifted their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.07.

Insiders Place Their Bets

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

Samsara Stock Performance

Shares of IOT opened at $49.39 on Monday. Samsara Inc. has a 52 week low of $21.48 and a 52 week high of $49.56. The company has a market capitalization of $27.20 billion, a PE ratio of -98.78 and a beta of 1.50. The company’s 50 day moving average price is $40.39 and its 200 day moving average price is $37.00.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the previous year, the company posted ($0.11) EPS. Samsara’s revenue was up 36.9% on a year-over-year basis. On average, equities analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

About Samsara

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.