Empowered Funds LLC Raises Stock Holdings in Samsara Inc. (NYSE:IOT)

Empowered Funds LLC raised its stake in Samsara Inc. (NYSE:IOT) by 55.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,750 shares of the company’s stock after buying an additional 3,463 shares during the quarter. Empowered Funds LLC’s holdings in Samsara were worth $469,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IOT. CIBC Asset Management Inc purchased a new stake in Samsara in the third quarter valued at about $264,000. OneDigital Investment Advisors LLC purchased a new position in shares of Samsara in the 3rd quarter valued at approximately $2,463,000. KBC Group NV raised its position in shares of Samsara by 103.9% in the 3rd quarter. KBC Group NV now owns 24,243 shares of the company’s stock valued at $1,167,000 after purchasing an additional 12,356 shares during the last quarter. Fortis Capital Management LLC acquired a new stake in Samsara in the 3rd quarter worth approximately $200,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Samsara during the 3rd quarter worth approximately $1,180,000. 89.39% of the stock is currently owned by institutional investors.

Samsara Stock Up 2.7 %

Shares of IOT opened at $56.35 on Monday. Samsara Inc. has a 52-week low of $26.13 and a 52-week high of $56.76. The stock has a market cap of $31.35 billion, a PE ratio of -117.40 and a beta of 1.52. The firm’s fifty day moving average is $49.25 and its two-hundred day moving average is $41.45.

Samsara (NYSE:IOT) last posted its quarterly earnings results 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 firm had revenue of $300.20 million for 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%. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) earnings per share. As a group, research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Activity

In other Samsara news, CEO Sanjit Biswas sold 84,030 shares of Samsara stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the transaction, the chief executive officer now directly owns 806,269 shares of the company’s stock, valued at $33,814,921.86. The trade was a 9.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lara Caimi sold 7,508 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $46.42, for a total transaction of $348,521.36. Following the completion of the transaction, the insider now owns 1,093,535 shares in the company, valued at $50,761,894.70. The trade was a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,826,114 shares of company stock worth $84,024,779 over the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Loop Capital boosted their price target on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Evercore ISI raised their price objective on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. BNP Paribas initiated coverage on Samsara in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price on the stock. Finally, TD Cowen raised their price target on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.67.

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.