Quest Partners LLC Takes $136,000 Position in Samsara Inc. (NYSE:IOT)

Quest Partners LLC purchased a new stake in Samsara Inc. (NYSE:IOT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,030 shares of the company’s stock, valued at approximately $136,000.

A number of other institutional investors have also recently added to or reduced their stakes in IOT. Napean Trading & Investment Co Singapore PTE Ltd purchased a new stake in Samsara in the 2nd quarter valued at $3,221,000. Arizona State Retirement System grew its holdings in shares of Samsara by 17.6% in the second quarter. Arizona State Retirement System now owns 55,657 shares of the company’s stock valued at $1,876,000 after purchasing an additional 8,330 shares during the period. Victory Capital Management Inc. increased its position in Samsara by 8.1% during the second quarter. Victory Capital Management Inc. now owns 60,238 shares of the company’s stock worth $2,030,000 after purchasing an additional 4,511 shares during the last quarter. National Bank of Canada FI acquired a new stake in Samsara during the second quarter worth about $38,000. Finally, TD Asset Management Inc raised its stake in Samsara by 93.7% during the second quarter. TD Asset Management Inc now owns 620,212 shares of the company’s stock worth $20,901,000 after purchasing an additional 300,012 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

IOT has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Loop Capital raised their target price on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. BMO Capital Markets lifted their target price on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada boosted their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.07.

Samsara Stock Down 1.0 %

Shares of IOT opened at $46.95 on Tuesday. The company has a market cap of $25.86 billion, a P/E ratio of -93.90 and a beta of 1.50. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $47.79. The firm’s 50 day moving average price is $39.43 and its 200 day moving average price is $36.64.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million for 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%. The company’s revenue was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) earnings per share. Research analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Activity

In related news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the sale, the chief accounting officer now directly owns 319,667 shares in the company, valued at $15,123,445.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO James Andrew Munk sold 1,093 shares of the 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 transaction, 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 is accessible through this link. Also, insider Adam Eltoukhy sold 9,471 shares of Samsara stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $37.79, for a total value of $357,909.09. Following the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at $17,608,892.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,858,859 shares of company stock worth $73,525,632. 60.04% of the stock is currently owned by company insiders.

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.