McAdam LLC Invests $205,000 in Samsara Inc. (NYSE:IOT)

McAdam LLC acquired a new stake in Samsara Inc. (NYSE:IOT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 6,075 shares of the company’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IOT. Slow Capital Inc. raised its holdings in shares of Samsara by 14.4% during the second quarter. Slow Capital Inc. now owns 116,935 shares of the company’s stock valued at $3,941,000 after buying an additional 14,730 shares during the last quarter. Carnegie Investment Counsel bought a new stake in Samsara during the 2nd quarter valued at $2,125,000. Assenagon Asset Management S.A. acquired a new position in Samsara during the 2nd quarter worth $293,000. Swedbank AB bought a new position in shares of Samsara in the second quarter worth $105,000. Finally, Baader Bank Aktiengesellschaft acquired a new position in shares of Samsara during the second quarter valued at $506,000. 89.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on IOT shares. Loop Capital reiterated a “buy” rating and set a $42.00 price objective on shares of Samsara in a research note on Friday, June 28th. Piper Sandler reissued a “neutral” rating and issued a $36.00 price target on shares of Samsara in a report on Friday, June 28th. Evercore ISI lowered their price objective on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a research note on Friday, June 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Samsara in a report on Wednesday, June 26th. Finally, StockNews.com cut shares of Samsara from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.17.

Samsara Stock Up 2.0 %

Shares of NYSE:IOT opened at $41.69 on Friday. The company has a market cap of $22.96 billion, a P/E ratio of -83.38 and a beta of 1.49. Samsara Inc. has a 12-month low of $21.48 and a 12-month high of $42.28. The company’s fifty day moving average is $36.02 and its two-hundred day moving average is $35.58.

Samsara (NYSE:IOT) last released its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $280.73 million for the quarter, compared to analysts’ expectations of $272.51 million. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. Equities research analysts anticipate that Samsara Inc. will post -0.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Bicket sold 78,128 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.51, for a total transaction of $3,164,965.28. Following the transaction, the insider now directly owns 1,273,912 shares in the company, valued at approximately $51,606,175.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sanjit Biswas sold 78,295 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $40.50, for a total value of $3,170,947.50. Following the transaction, the chief executive officer now owns 908,004 shares in the company, valued at $36,774,162. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Bicket sold 78,128 shares of Samsara stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.51, for a total transaction of $3,164,965.28. Following the completion of the sale, the insider now owns 1,273,912 shares of the company’s stock, valued at $51,606,175.12. The disclosure for this sale can be found here. Insiders sold a total of 1,639,922 shares of company stock worth $56,851,641 in the last quarter. 60.04% of the stock is currently owned by corporate insiders.

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.