Samsara Inc. (NYSE:IOT) Shares Sold by Qsemble Capital Management LP

Qsemble Capital Management LP cut its holdings in shares of Samsara Inc. (NYSE:IOT) by 23.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,534 shares of the company’s stock after selling 4,355 shares during the quarter. Qsemble Capital Management LP’s holdings in Samsara were worth $549,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in shares of Samsara by 3.7% in the 1st quarter. Baillie Gifford & Co. now owns 23,225,238 shares of the company’s stock valued at $877,682,000 after purchasing an additional 827,848 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Samsara by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 15,260,007 shares of the company’s stock valued at $509,379,000 after purchasing an additional 917,389 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Samsara by 23.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,985,589 shares of the company’s stock valued at $66,279,000 after purchasing an additional 372,073 shares in the last quarter. Sands Capital Management LLC raised its holdings in shares of Samsara by 4.6% in the 4th quarter. Sands Capital Management LLC now owns 1,579,876 shares of the company’s stock valued at $52,736,000 after purchasing an additional 69,171 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Samsara by 9.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock valued at $32,360,000 after purchasing an additional 79,773 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Performance

Samsara stock traded down $0.98 during midday trading on Wednesday, hitting $37.28. 593,477 shares of the company’s stock were exchanged, compared to its average volume of 3,834,760. Samsara Inc. has a 12-month low of $21.48 and a 12-month high of $42.28. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of -76.50 and a beta of 1.49. The firm’s 50 day simple moving average is $35.15 and its 200 day simple moving average is $34.44.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $280.73 million for the quarter, compared to the consensus estimate 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 forecast that Samsara Inc. will post -0.39 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $33.16, for a total value of $3,183,360.00. Following the sale, the chief executive officer now owns 1,019,921 shares of the company’s stock, valued at $33,820,580.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO James Andrew Munk sold 1,105 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $33.16, for a total transaction of $3,183,360.00. Following the completion of the sale, the chief executive officer now owns 1,019,921 shares of the company’s stock, valued at approximately $33,820,580.36. The disclosure for this sale can be found here. Insiders have sold a total of 1,590,695 shares of company stock valued at $54,627,557 over the last quarter. Corporate insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

IOT has been the topic of a number of analyst reports. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a report on Saturday, May 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Samsara in a research report on Wednesday, June 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $36.00 target price on shares of Samsara in a research report on Friday, June 28th. BMO Capital Markets reaffirmed a “market perform” rating and issued 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 on the stock in a research report on Friday, June 7th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Samsara currently has an average rating of “Moderate Buy” and an average target price of $37.17.

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.