Price T Rowe Associates Inc. MD Purchases 2,797,326 Shares of Samsara Inc. (NYSE:IOT)

Price T Rowe Associates Inc. MD increased its position in shares of Samsara Inc. (NYSE:IOT) by 18.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,639,141 shares of the company’s stock after buying an additional 2,797,326 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Samsara were worth $666,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in shares of Samsara by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after buying an additional 280 shares during the period. Janney Capital Management LLC boosted its holdings in shares of Samsara by 3.1% during the 4th quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock worth $345,000 after buying an additional 311 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after purchasing an additional 381 shares during the period. Ulland Investment Advisors LLC boosted its holdings in Samsara by 33.6% in the 1st quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock valued at $75,000 after purchasing an additional 500 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Samsara by 1.0% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 66,389 shares of the company’s stock valued at $2,216,000 after purchasing an additional 644 shares during the period. 89.39% of the stock is owned by institutional investors.

Samsara Trading Down 0.9 %

Shares of Samsara stock traded down $0.33 during mid-day trading on Monday, reaching $37.18. 367,399 shares of the stock were exchanged, compared to its average volume of 3,763,103. The firm has a 50-day simple moving average of $34.60 and a 200 day simple moving average of $34.72. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $42.28.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, June 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $280.73 million during the quarter, compared to analysts’ expectations of $272.51 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. Research analysts expect that Samsara Inc. will post -0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI reduced their price target on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a report on Friday, June 7th. Wolfe Research reissued an “outperform” rating and issued a $44.00 price target on shares of Samsara in a report on Friday, June 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Samsara in a report on Wednesday, June 26th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Saturday, May 25th. Finally, Loop Capital reaffirmed a “buy” rating and set a $42.00 price objective on shares of Samsara in a report on Friday, June 28th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.17.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 91,954 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $35.61, for a total transaction of $3,274,481.94. Following the completion of the sale, the chief executive officer now owns 1,780,758 shares in the company, valued at approximately $63,412,792.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Samsara news, CEO Sanjit Biswas sold 91,954 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $35.61, for a total value of $3,274,481.94. Following the completion of the sale, the chief executive officer now owns 1,780,758 shares in the company, valued at approximately $63,412,792.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Marc L. Andreessen sold 277,484 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.88, for a total transaction of $8,013,737.92. The disclosure for this sale can be found here. Insiders sold 1,757,240 shares of company stock worth $61,407,550 in the last quarter. 60.04% of the stock is owned by corporate insiders.

About Samsara

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.