Plato Investment Management Ltd Takes Position in Samsara Inc. (NYSE:IOT)

Plato Investment Management Ltd purchased a new position in shares of Samsara Inc. (NYSE:IOT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,258 shares of the company’s stock, valued at approximately $274,000.

Several other hedge funds have also modified their holdings of the stock. Quarry LP bought a new stake in shares of Samsara in the fourth quarter worth $37,000. Montag A & Associates Inc. lifted its stake in Samsara by 1,200.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after buying an additional 1,200 shares in the last quarter. Tradition Wealth Management LLC purchased a new stake in shares of Samsara in the fourth quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Samsara by 31.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after buying an additional 381 shares during the last quarter. Finally, Ulland Investment Advisors LLC grew its holdings in Samsara by 33.6% during the first 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 last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Down 4.4 %

NYSE IOT traded down $1.63 during trading hours on Friday, hitting $35.03. 2,758,084 shares of the company were exchanged, compared to its average volume of 3,738,552. The stock has a 50-day moving average price of $34.33 and a 200 day moving average price of $34.81. Samsara Inc. has a 52 week low of $21.48 and a 52 week high of $42.28. The stock has a market cap of $19.29 billion, a PE ratio of -67.26 and a beta of 1.49.

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

Wall Street Analyst Weigh In

IOT has been the subject of a number of analyst reports. Bank of America started coverage on Samsara in a report on Thursday, June 20th. They set a “buy” rating and a $37.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 target price on shares of Samsara in a research note on Wednesday, June 26th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Saturday, May 25th. Wolfe Research reissued an “outperform” rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $40.00 price objective on shares of Samsara in a report on Tuesday, June 11th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.17.

Insider Activity at Samsara

In related news, insider John Bicket sold 71,521 shares of Samsara stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $38.17, for a total value of $2,729,956.57. Following the completion of the sale, the insider now owns 154,631 shares in the company, valued at approximately $5,902,265.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Samsara news, insider John Bicket sold 71,521 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $38.17, for a total transaction of $2,729,956.57. Following the completion of the sale, the insider now directly owns 154,631 shares of the company’s stock, valued at approximately $5,902,265.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dominic Phillips sold 21,053 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $30.49, for a total value of $641,905.97. Following the completion of the sale, the insider now directly owns 1,137,989 shares of the company’s stock, valued at $34,697,284.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,704,810 shares of company stock valued at $59,699,314. 60.04% of the stock is owned by corporate insiders.

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.