Samsara (NYSE:IOT) Sees Large Volume Increase

Shares of Samsara Inc. (NYSE:IOT) saw unusually-strong trading volume on Tuesday . Approximately 1,530,153 shares were traded during trading, a decline of 58% from the previous session’s volume of 3,631,814 shares.The stock last traded at $41.68 and had previously closed at $41.55.

Analyst Ratings Changes

Several brokerages have recently weighed in on IOT. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of Samsara in a report on Wednesday, June 26th. Wolfe Research restated an “outperform” rating and issued a $44.00 price target on shares of Samsara in a research note on Friday, June 28th. Bank of America assumed coverage on Samsara in a report on Thursday, June 20th. They set a “buy” rating and a $37.00 price objective for the company. BMO Capital Markets restated a “market perform” rating and set a $40.00 target price on shares of Samsara in a research report on Tuesday, June 11th. Finally, Evercore ISI dropped their target price on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.17.

Samsara Stock Up 0.1 %

The stock has a market cap of $22.92 billion, a P/E ratio of -83.54 and a beta of 1.49. The company’s 50 day moving average price is $36.29 and its 200-day moving average price is $35.65.

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

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $37.79, for a total transaction of $357,909.09. Following the sale, the insider now owns 465,967 shares in the company, valued at approximately $17,608,892.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Dominic Phillips sold 21,053 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.49, for a total transaction of $641,905.97. Following the transaction, the insider now directly owns 1,137,989 shares of the company’s stock, valued at approximately $34,697,284.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 9,471 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at approximately $17,608,892.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,543,922 shares of company stock worth $53,221,881. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of large investors have recently modified their holdings of IOT. Boulder Hill Capital Management LP acquired a new position in Samsara during the fourth quarter worth $1,115,000. Charles Schwab Investment Management Inc. lifted its stake in Samsara by 9.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock valued at $32,360,000 after acquiring an additional 79,773 shares in the last quarter. CHURCHILL MANAGEMENT Corp grew its stake in shares of Samsara by 135.6% in the 1st quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after acquiring an additional 34,679 shares in the last quarter. Mission Wealth Management LP bought a new position in shares of Samsara during the first quarter valued at about $1,100,000. Finally, Quarry LP purchased a new position in Samsara during the fourth quarter worth about $37,000. 89.39% of the stock is currently owned by institutional investors.

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.