Avitas Wealth Management LLC Takes Position in Samsara Inc. (NYSE:IOT)

Avitas Wealth Management LLC acquired a new position in Samsara Inc. (NYSE:IOT) during the third quarter, Holdings Channel reports. The institutional investor acquired 5,082 shares of the company’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its position in Samsara by 18.1% during 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 during the last quarter. 1832 Asset Management L.P. lifted its stake 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Samsara by 18.8% during 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 buying an additional 2,797,326 shares during the period. Vanguard Group Inc. grew its stake in Samsara by 12.1% in the 1st 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 bought a new position in Samsara in the 2nd quarter worth $29,464,000. Institutional investors own 89.39% of the company’s stock.

Samsara Price Performance

Shares of IOT stock opened at $49.35 on Thursday. The stock’s fifty day simple moving average is $46.39 and its 200 day simple moving average is $39.44. Samsara Inc. has a one year low of $21.48 and a one year high of $51.53. The firm has a market cap of $27.46 billion, a price-to-earnings ratio of -102.81 and a beta of 1.52.

Samsara (NYSE:IOT) last posted its earnings results 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 for the quarter, compared to analyst estimates of $289.53 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Activity

In related news, insider Adam Eltoukhy sold 9,308 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total transaction of $471,357.12. Following the sale, the insider now directly owns 396,784 shares in the company, valued at $20,093,141.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sanjit Biswas sold 81,515 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the transaction, the chief executive officer now owns 96,000 shares in the company, valued at $3,555,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam Eltoukhy sold 9,308 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total transaction of $471,357.12. Following the sale, the insider now directly owns 396,784 shares in the company, valued at approximately $20,093,141.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,793,333 shares of company stock worth $79,214,223. Insiders own 60.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on IOT shares. Loop Capital upped their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Craig Hallum initiated coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price on the stock. Piper Sandler upped their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. TD Cowen upped their target price on shares of Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company increased their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.20.

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.