Contravisory Investment Management Inc. Has $9.23 Million Stake in Samsara Inc. (NYSE:IOT)

Contravisory Investment Management Inc. trimmed its stake in Samsara Inc. (NYSE:IOT) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 191,892 shares of the company’s stock after selling 526 shares during the period. Samsara accounts for about 2.0% of Contravisory Investment Management Inc.’s holdings, making the stock its 15th largest position. Contravisory Investment Management Inc.’s holdings in Samsara were worth $9,234,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baillie Gifford & Co. grew 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 worth $924,499,000 after purchasing an additional 4,207,974 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Samsara by 18.8% in the 1st 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 last quarter. Vanguard Group Inc. grew its position in 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 during the last quarter. 1832 Asset Management L.P. grew its position in Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after purchasing an additional 500,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in shares of 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 acquiring an additional 243,170 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Performance

NYSE IOT opened at $50.59 on Friday. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $50.66. The firm has a 50-day moving average of $43.48 and a 200-day moving average of $38.08.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the previous year, the company earned ($0.11) EPS. The business’s revenue was up 36.9% on a year-over-year basis. As a group, sell-side analysts expect that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Samsara

In related news, insider Adam Eltoukhy sold 8,500 shares of Samsara stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $50.01, for a total transaction of $425,085.00. Following the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $19,843,167.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Sanjit Biswas sold 65,605 shares of Samsara stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the sale, the chief executive officer now directly owns 1,112,694 shares in the company, valued at $40,969,393.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 8,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $50.01, for a total transaction of $425,085.00. Following the completion of the transaction, the insider now owns 396,784 shares in the company, valued at $19,843,167.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,049,030 shares of company stock valued at $86,959,176 in the last ninety days. 60.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Loop Capital lifted their target price on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company lifted their target price on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Bank of America lifted their target price on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Truist Financial lifted their price target on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. Finally, BNP Paribas initiated coverage on shares of Samsara in a report on Tuesday. They set a “neutral” rating and a $46.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.33.

Samsara 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.