Toronto Dominion Bank Acquires 3,426 Shares of Samsara Inc. (NYSE:IOT)

Toronto Dominion Bank raised its stake in shares of Samsara Inc. (NYSE:IOT) by 20.9% in the 2nd quarter, Holdings Channel reports. The firm owned 19,844 shares of the company’s stock after acquiring an additional 3,426 shares during the period. Toronto Dominion Bank’s holdings in Samsara were worth $669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of IOT. Resources Management Corp CT ADV boosted its stake in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the period. Quarry LP purchased a new position in shares of Samsara during the fourth quarter valued at approximately $37,000. National Bank of Canada FI bought a new position in shares of Samsara during the second quarter valued at approximately $38,000. UniSuper Management Pty Ltd bought a new stake in shares of Samsara during the 1st quarter worth approximately $94,000. Finally, Montag A & Associates Inc. boosted its stake in shares of Samsara by 102.6% during the first quarter. Montag A & Associates Inc. now owns 2,634 shares of the company’s stock valued at $100,000 after purchasing an additional 1,334 shares during the period. 89.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $34.76, for a total transaction of $3,336,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,370,299 shares of the company’s stock, valued at approximately $47,631,593.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $34.76, for a total transaction of $3,336,960.00. Following the completion of the sale, the chief executive officer now owns 1,370,299 shares in the company, valued at $47,631,593.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,919,287 shares of company stock valued at $79,619,695 over the last quarter. Corporate insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IOT shares. Truist Financial lifted their price objective on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. 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. Morgan Stanley raised their target price on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Loop Capital raised their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, TD Cowen increased their target price on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Samsara presently has an average rating of “Moderate Buy” and a consensus price target of $42.07.

Samsara Trading Up 1.2 %

Samsara stock opened at $48.11 on Tuesday. The company has a fifty day simple moving average of $41.82 and a 200-day simple moving average of $37.50. The stock has a market cap of $26.50 billion, a P/E ratio of -96.22 and a beta of 1.50. Samsara Inc. has a 12-month low of $21.48 and a 12-month high of $50.07.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, sell-side analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Samsara Company 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.