CIBC Asset Management Inc Acquires New Holdings in Samsara Inc. (NYSE:IOT)

CIBC Asset Management Inc purchased a new position in Samsara Inc. (NYSE:IOT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,491 shares of the company’s stock, valued at approximately $264,000.

Other large investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in shares of Samsara by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after acquiring an additional 280 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after buying an additional 304 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Samsara by 69.1% in 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 during the last quarter. Resources Management Corp CT ADV boosted its stake in shares of Samsara by 104.0% during 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. Finally, Cetera Advisors LLC boosted its position in Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after purchasing an additional 497 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 58,739 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $50.61, for a total transaction of $2,972,780.79. Following the transaction, the chief executive officer now owns 617,147 shares in the company, valued at $31,233,809.67. This represents a 8.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 12,500 shares of Samsara stock in a transaction on Friday, September 6th. The shares were sold at an average price of $45.00, for a total value of $562,500.00. Following the completion of the transaction, the insider now directly owns 465,967 shares of the company’s stock, valued at $20,968,515. This represents a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,826,114 shares of company stock worth $84,024,779 over the last quarter. 60.04% of the stock is currently owned by insiders.

Samsara Stock Up 2.7 %

Samsara stock opened at $56.36 on Friday. The stock has a market capitalization of $31.36 billion, a PE ratio of -117.42 and a beta of 1.52. Samsara Inc. has a twelve month low of $26.13 and a twelve month high of $56.76. The company has a 50 day moving average of $49.25 and a 200-day moving average of $41.41.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) EPS. Equities analysts anticipate that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IOT has been the topic of a number of recent analyst reports. BNP Paribas assumed coverage on Samsara in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price objective on the stock. Morgan Stanley upped their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday. Truist Financial boosted their target price on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada increased their price target on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.67.

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.