DekaBank Deutsche Girozentrale Sells 10,842 Shares of Samsara Inc. (NYSE:IOT)

DekaBank Deutsche Girozentrale trimmed its position in shares of Samsara Inc. (NYSE:IOT) by 53.4% during the 3rd quarter, Holdings Channel reports. The fund owned 9,474 shares of the company’s stock after selling 10,842 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Samsara were worth $456,000 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 the business. Resources Management Corp CT ADV grew its stake in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares in the last quarter. UMB Bank n.a. increased its stake in Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after purchasing an additional 418 shares in the last quarter. National Bank of Canada FI purchased a new stake in Samsara during the 2nd quarter valued at about $38,000. Nemes Rush Group LLC purchased a new position in Samsara during the 2nd quarter worth approximately $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares during the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 value of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares in the company, valued at approximately $15,123,445.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction dated Tuesday, September 10th. The shares were 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 81,515 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total value of $3,019,315.60. Following the completion of the sale, the chief executive officer now owns 96,000 shares in the company, valued at approximately $3,555,840. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,879,269 shares of company stock valued at $83,386,415 in the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IOT. Craig Hallum initiated coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target for the company. TD Cowen boosted their price objective on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. boosted their price target on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. BMO Capital Markets increased their target price on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Finally, Morgan Stanley raised their price target on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.20.

Samsara Stock Performance

Samsara stock opened at $46.22 on Monday. The company has a market cap of $25.72 billion, a price-to-earnings ratio of -96.29 and a beta of 1.52. The firm has a 50 day moving average price of $46.62 and a 200 day moving average price of $39.72. Samsara Inc. has a 1 year low of $22.19 and a 1 year high of $51.53.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $289.53 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. Sell-side analysts predict that Samsara Inc. will post -0.34 EPS for the current 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.