874,302 Shares in Samsara Inc. (NYSE:IOT) Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC purchased a new stake in Samsara Inc. (NYSE:IOT) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 874,302 shares of the company’s stock, valued at approximately $29,464,000. Allspring Global Investments Holdings LLC owned approximately 0.16% of Samsara at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in IOT. Baillie Gifford & Co. increased its position in Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after buying an additional 4,207,974 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after purchasing an additional 2,797,326 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares in the last quarter. 1832 Asset Management L.P. grew its position in Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after purchasing an additional 3,853,400 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after purchasing an additional 243,170 shares in the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

Insider Activity at Samsara

In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction on 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 $17,608,892.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Adam Eltoukhy sold 9,471 shares of the company’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 transaction of $357,909.09. Following the sale, the insider now owns 465,967 shares of the company’s stock, valued at approximately $17,608,892.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Bicket sold 78,128 shares of the firm’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 completion of the transaction, the insider now directly 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. In the last ninety days, insiders have sold 1,543,922 shares of company stock worth $53,221,881. 60.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on IOT. Piper Sandler reaffirmed a “neutral” rating and issued a $36.00 price objective on shares of Samsara in a research note on Friday, June 28th. Bank of America began coverage on Samsara in a research note on Thursday, June 20th. They set a “buy” rating and a $37.00 price target for the company. Loop Capital reissued a “buy” rating and issued a $42.00 price objective on shares of Samsara in a research note on Friday, June 28th. BMO Capital Markets reaffirmed a “market perform” rating and set a $40.00 target price on shares of Samsara in a research report on Tuesday, June 11th. Finally, StockNews.com downgraded Samsara from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.17.

Samsara Trading Up 1.1 %

Samsara stock opened at $41.99 on Wednesday. The business’s 50 day simple moving average is $36.53 and its 200 day simple moving average is $35.70. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $42.49. The company has a market cap of $23.13 billion, a price-to-earnings ratio of -83.98 and a beta of 1.49.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, June 6th. The company reported ($0.10) EPS for the quarter, beating 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 firm had revenue of $280.73 million for the quarter, compared to analysts’ expectations of $272.51 million. As a group, equities research analysts forecast that Samsara Inc. will post -0.39 earnings per share for the current fiscal year.

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.