Samsara Inc. (NYSE:IOT) Shares Acquired by Penserra Capital Management LLC

Penserra Capital Management LLC increased its stake in Samsara Inc. (NYSE:IOT) by 147.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,934 shares of the company’s stock after purchasing an additional 34,525 shares during the period. Penserra Capital Management LLC’s holdings in Samsara were worth $2,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its position in Samsara by 23.4% in the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after buying an additional 500,400 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Samsara by 55.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock valued at $88,013,000 after acquiring an additional 650,982 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Samsara by 84.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,608,921 shares of the company’s stock valued at $77,421,000 after acquiring an additional 734,619 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Samsara by 17.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 877,485 shares of the company’s stock worth $29,571,000 after acquiring an additional 131,452 shares during the period. Institutional investors and hedge funds own 89.39% of the company’s stock.

Samsara Stock Down 1.5 %

IOT stock opened at $55.50 on Tuesday. The firm has a 50 day moving average of $49.43 and a two-hundred day moving average of $41.56. Samsara Inc. has a 12 month low of $26.13 and a 12 month high of $57.51. The company has a market capitalization of $30.88 billion, a price-to-earnings ratio of -115.63 and a beta of 1.52.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 EPS 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 firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The business’s quarterly revenue was up 36.9% on a year-over-year basis. On average, research analysts expect that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Bicket sold 93,212 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,721,023.04. Following the sale, the insider now directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. This trade represents a 54.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 12,500 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $55.05, for a total value of $688,125.00. Following the completion of the sale, the insider now directly owns 396,784 shares in the company, valued at approximately $21,842,959.20. This represents a 3.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,658,501 shares of company stock valued at $76,995,090 over the last 90 days. 60.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IOT. JPMorgan Chase & Co. increased their price objective on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Evercore ISI lifted their price objective on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Truist Financial boosted their target price on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Finally, Piper Sandler raised their target price on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Samsara currently has a consensus rating of “Hold” and a consensus target price of $45.67.

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.