Exchange Traded Concepts LLC Lowers Stock Holdings in Samsara Inc. (NYSE:IOT)

Exchange Traded Concepts LLC lowered its position in Samsara Inc. (NYSE:IOT) by 36.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 398,312 shares of the company’s stock after selling 225,574 shares during the period. Exchange Traded Concepts LLC’s holdings in Samsara were worth $19,167,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of IOT. Baillie Gifford & Co. lifted its holdings in shares of Samsara by 18.1% in the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. lifted its position in shares of Samsara by 102.1% in the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after buying an additional 3,853,400 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $666,584,000 after buying an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. boosted its stake in Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after buying an additional 1,841,149 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Samsara during the 2nd quarter valued at approximately $29,464,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Insiders Place Their Bets

In other news, insider Adam Eltoukhy sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $50.00, for a total value of $200,000.00. Following the completion of the transaction, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $19,839,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Adam Eltoukhy sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $50.00, for a total value of $200,000.00. Following the sale, the insider now directly owns 396,784 shares in the company, valued at approximately $19,839,200. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. Insiders sold a total of 2,053,030 shares of company stock worth $87,159,176 over the last 90 days. Company insiders own 60.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on IOT. Wolfe Research reiterated an “outperform” rating and set a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. Royal Bank of Canada increased their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Bank of America boosted their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. StockNews.com downgraded shares of Samsara from a “hold” rating to a “sell” rating in a report on Friday. Finally, Piper Sandler upped their price objective on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Samsara currently has an average rating of “Hold” and a consensus target price of $43.00.

Samsara Stock Down 0.2 %

IOT opened at $50.50 on Friday. Samsara Inc. has a 52 week low of $21.48 and a 52 week high of $51.53. The company has a market capitalization of $28.10 billion, a P/E ratio of -105.21 and a beta of 1.52. The stock’s fifty day moving average is $43.78 and its two-hundred day moving average is $38.16.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter last year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. Equities analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

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.