Wealth Effects LLC Increases Stock Holdings in Samsara Inc. (NYSE:IOT)

Wealth Effects LLC raised its holdings in Samsara Inc. (NYSE:IOT) by 37.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,550 shares of the company’s stock after buying an additional 2,900 shares during the quarter. Wealth Effects LLC’s holdings in Samsara were worth $356,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its holdings in shares of Samsara by 18.1% during the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after acquiring an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. grew its position in Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after purchasing an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after purchasing an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after buying an additional 1,841,149 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Samsara during the second quarter worth $29,464,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IOT has been the topic of several research reports. StockNews.com downgraded Samsara from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Loop Capital reissued a “buy” rating and issued a $42.00 price objective on shares of Samsara in a report on Friday, June 28th. Piper Sandler restated a “neutral” rating and issued a $36.00 price objective on shares of Samsara in a research note on Friday, June 28th. Wolfe Research reiterated an “outperform” rating and issued a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $40.00 price target on shares of Samsara in a research report on Tuesday, June 11th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $37.83.

Insider Activity at Samsara

In other Samsara news, CAO James Andrew Munk sold 1,105 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the sale, the chief accounting officer now directly owns 337,523 shares of the company’s stock, valued at $10,129,065.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the transaction, the insider now owns 465,967 shares in the company, valued at approximately $17,608,892.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO James Andrew Munk sold 1,105 shares of Samsara stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the completion of the sale, the chief accounting officer now owns 337,523 shares in the company, valued at $10,129,065.23. The disclosure for this sale can be found here. Insiders sold a total of 1,615,535 shares of company stock worth $57,041,330 in the last 90 days. Corporate insiders own 60.04% of the company’s stock.

Samsara Stock Down 2.3 %

Shares of NYSE:IOT traded down $0.89 during trading on Wednesday, hitting $38.32. 515,485 shares of the stock traded hands, compared to its average volume of 3,607,466. The company has a fifty day moving average price of $37.64 and a two-hundred day moving average price of $35.92. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $42.49. The company has a market cap of $21.11 billion, a price-to-earnings ratio of -78.00 and a beta of 1.49.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, June 6th. The company reported ($0.10) EPS 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 analyst estimates of $272.51 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. On average, equities research analysts predict that Samsara Inc. will post -0.39 EPS 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.