Samsara Inc. (NYSE:IOT) Shares Bought by Resources Management Corp CT ADV

Resources Management Corp CT ADV lifted its holdings in Samsara Inc. (NYSE:IOT) by 104.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 961 shares of the company’s stock after purchasing an additional 490 shares during the period. Resources Management Corp CT ADV’s holdings in Samsara were worth $32,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Samsara in the fourth quarter valued at $11,693,000. Coldstream Capital Management Inc. acquired a new stake in shares of Samsara during the fourth quarter worth $206,000. Tradition Wealth Management LLC purchased a new stake in shares of Samsara during the fourth quarter valued at $46,000. Boulder Hill Capital Management LP acquired a new position in shares of Samsara in the 4th quarter valued at $1,115,000. Finally, Sands Capital Management LLC increased its stake in Samsara by 4.6% in the 4th quarter. Sands Capital Management LLC now owns 1,579,876 shares of the company’s stock worth $52,736,000 after purchasing an additional 69,171 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors.

Samsara Trading Up 0.6 %

Shares of IOT stock opened at $49.76 on Wednesday. The business’s 50 day moving average is $40.63 and its two-hundred day moving average is $37.13. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $49.81.

Samsara (NYSE:IOT) last announced its 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. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter last year, the firm posted ($0.11) EPS. The business’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, research analysts forecast that Samsara Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the transaction, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at $15,123,445.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,953,232 shares of company stock valued at $79,515,828. Insiders own 60.04% of the company’s stock.

Analysts Set New Price Targets

IOT has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Evercore ISI lifted their price objective on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Morgan Stanley increased their target price on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Bank of America raised their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their price target on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Samsara currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

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.