Connor Clark & Lunn Investment Management Ltd. Takes $697,000 Position in Samsara Inc. (NYSE:IOT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Samsara Inc. (NYSE:IOT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,477 shares of the company’s stock, valued at approximately $697,000.

Other large investors have also recently bought and sold shares of the company. Resources Management Corp CT ADV raised its position in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the period. National Bank of Canada FI bought a new stake in Samsara in the second quarter valued at $38,000. Nemes Rush Group LLC bought a new stake in Samsara in the second quarter valued at $45,000. UMB Bank n.a. boosted its holdings in shares of Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after acquiring an additional 418 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

Insider Activity at Samsara

In related 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjit Biswas sold 75,594 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the completion of the transaction, the chief executive officer now owns 120,292 shares in the company, valued at $6,723,119.88. This represents a 38.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,809,695 shares of company stock worth $85,445,322 in the last quarter. 60.04% of the stock is owned by company insiders.

Samsara Price Performance

NYSE IOT opened at $53.74 on Friday. Samsara Inc. has a 12 month low of $26.13 and a 12 month high of $57.51. The company has a market capitalization of $29.90 billion, a P/E ratio of -111.96 and a beta of 1.52. The company’s 50 day simple moving average is $49.83 and its 200 day simple moving average is $41.84.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company 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 firm’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. On average, analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on IOT. BNP Paribas started coverage on shares of Samsara in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price objective on the stock. Evercore ISI lifted their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. BMO Capital Markets boosted their price objective on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Morgan Stanley boosted their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.67.

About Samsara

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.