Samsara Inc. (NYSE:IOT) Position Lifted by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Samsara Inc. (NYSE:IOT) by 89.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 38,789 shares of the company’s stock after buying an additional 18,271 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Samsara were worth $1,307,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. CHURCHILL MANAGEMENT Corp lifted its position in Samsara by 135.6% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock valued at $2,277,000 after purchasing an additional 34,679 shares during the last quarter. Mission Wealth Management LP bought a new stake in Samsara in the 1st quarter valued at about $1,100,000. Quarry LP bought a new stake in Samsara in the 4th quarter valued at about $37,000. Norges Bank bought a new stake in Samsara in the 4th quarter valued at about $11,693,000. Finally, Swiss National Bank acquired a new position in Samsara during the 1st quarter valued at about $19,477,000. 89.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 8,500 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.01, for a total value of $425,085.00. Following the completion of the sale, the insider now owns 396,784 shares of the company’s stock, valued at approximately $19,843,167.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,919,287 shares of company stock valued at $79,619,695. 60.04% of the stock is currently owned by corporate insiders.

Samsara Price Performance

Samsara stock opened at $47.52 on Monday. The business has a 50 day simple moving average of $41.60 and a 200 day simple moving average of $37.42. Samsara Inc. has a one year low of $21.48 and a one year high of $50.07. The company has a market capitalization of $26.17 billion, a PE ratio of -95.04 and a beta of 1.50.

Samsara (NYSE:IOT) last announced its quarterly earnings results 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 firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business’s revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.11) earnings per share. Equities analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Bank of America raised their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. TD Cowen lifted their target price on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Finally, Piper Sandler lifted their target price on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.07.

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.