Allspring Global Investments Holdings LLC Buys 734,619 Shares of Samsara Inc. (NYSE:IOT)

Allspring Global Investments Holdings LLC grew its stake in shares of Samsara Inc. (NYSE:IOT) by 84.0% during the third quarter, HoldingsChannel reports. The firm owned 1,608,921 shares of the company’s stock after purchasing an additional 734,619 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Samsara were worth $77,421,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mission Wealth Management LP bought a new stake in Samsara during the 1st quarter valued at approximately $1,100,000. Bank of Montreal Can purchased a new stake in Samsara in the second quarter worth $537,000. Magnetar Financial LLC bought a new position in Samsara in the second quarter worth $1,240,000. Swiss National Bank purchased a new position in Samsara during the first quarter valued at $19,477,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Samsara during the 1st quarter valued at $647,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IOT. Loop Capital increased their price target on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Piper Sandler boosted their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. BMO Capital Markets upped 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. Bank of America lifted their price objective on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley increased their target price on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.00.

Insider Buying and Selling at Samsara

In related news, CEO Sanjit Biswas sold 84,150 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $38.06, for a total value of $3,202,749.00. Following the transaction, the chief executive officer now owns 1,190,149 shares of the company’s stock, valued at approximately $45,297,070.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Samsara news, CEO Sanjit Biswas sold 84,150 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $38.06, for a total transaction of $3,202,749.00. Following the completion of the sale, the chief executive officer now owns 1,190,149 shares of the company’s stock, valued at approximately $45,297,070.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lara Caimi sold 7,508 shares of the firm’s 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,016,136 shares of company stock worth $86,642,585 in the last three months. 60.04% of the stock is currently owned by company insiders.

Samsara Trading Up 1.7 %

Shares of IOT stock opened at $50.00 on Monday. The stock has a market capitalization of $27.54 billion, a P/E ratio of -100.00 and a beta of 1.52. The firm’s 50 day moving average is $45.07 and its 200 day moving average is $38.63. Samsara Inc. has a 12-month low of $21.48 and a 12-month high of $51.53.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. Samsara’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) earnings per share. As a group, equities analysts predict 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.