Samsara Inc. (NYSE:IOT) Major Shareholder Sells $91,858.32 in Stock

Samsara Inc. (NYSE:IOT) major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of Samsara stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $46.44, for a total value of $91,858.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Samsara Stock Performance

IOT stock traded up $0.04 during midday trading on Thursday, reaching $47.59. The company’s stock had a trading volume of 4,473,086 shares, compared to its average volume of 3,792,325. Samsara Inc. has a 1 year low of $21.48 and a 1 year high of $48.98. The firm has a market capitalization of $26.21 billion, a price-to-earnings ratio of -95.20 and a beta of 1.50. The stock has a fifty day simple moving average of $39.93 and a two-hundred day simple moving average of $36.80.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 24.19% and a negative return on equity of 20.39%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS. As a group, analysts forecast that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Piper Sandler boosted their target price on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. BMO Capital Markets lifted their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada lifted their target price on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IOT. Baillie Gifford & Co. increased its position in Samsara by 18.1% during the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after purchasing an additional 4,207,974 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after purchasing an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after buying an additional 2,797,326 shares during the period. Vanguard Group Inc. increased its holdings in Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after buying an additional 1,841,149 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Samsara in the second quarter worth approximately $29,464,000. Institutional investors own 89.39% of the company’s stock.

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.