Assenagon Asset Management S.A. Invests $293,000 in Samsara Inc. (NYSE:IOT)

Assenagon Asset Management S.A. purchased a new position in Samsara Inc. (NYSE:IOT) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,697 shares of the company’s stock, valued at approximately $293,000.

Several other large investors have also recently modified their holdings of IOT. Advisors Asset Management Inc. raised its stake in shares of Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after purchasing an additional 280 shares during the last quarter. Janney Capital Management LLC boosted its position in shares of Samsara by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock valued at $345,000 after buying an additional 311 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after buying an additional 381 shares in the last quarter. Cetera Advisors LLC raised its position in Samsara by 6.8% in the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after buying an additional 497 shares during the last quarter. Finally, Ulland Investment Advisors LLC lifted its stake in Samsara by 33.6% during the 1st quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock valued at $75,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on IOT shares. StockNews.com lowered shares of Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Samsara in a research report on Wednesday, June 26th. BMO Capital Markets reissued a “market perform” rating and set a $40.00 price target on shares of Samsara in a report on Tuesday, June 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of Samsara in a report on Friday, June 28th. Finally, Evercore ISI lowered their target price on Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.17.

Insider Activity

In other Samsara news, CAO James Andrew Munk sold 1,105 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the completion of the sale, the chief accounting officer now owns 337,523 shares in the company, valued at approximately $10,129,065.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $37.81, for a total transaction of $3,629,760.00. Following the completion of the sale, the chief executive officer now directly owns 1,488,712 shares of the company’s stock, valued at approximately $56,288,200.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO James Andrew Munk sold 1,105 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $30.01, for a total transaction of $33,161.05. Following the completion of the transaction, the chief accounting officer now directly owns 337,523 shares in the company, valued at approximately $10,129,065.23. The disclosure for this sale can be found here. Insiders have sold 1,639,922 shares of company stock worth $56,851,641 in the last three months. Company insiders own 60.04% of the company’s stock.

Samsara Stock Up 2.0 %

NYSE IOT opened at $41.69 on Friday. Samsara Inc. has a 52 week low of $21.48 and a 52 week high of $42.28. The company has a market capitalization of $22.96 billion, a P/E ratio of -83.38 and a beta of 1.49. The stock’s 50-day moving average price is $36.02 and its 200-day moving average price is $35.58.

Samsara (NYSE:IOT) last released its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. The company had revenue of $280.73 million during the quarter, compared to analyst estimates of $272.51 million. Research analysts anticipate that Samsara Inc. will post -0.39 EPS 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.