Swedbank AB Buys 8,974 Shares of Samsara Inc. (NYSE:IOT)

Swedbank AB lifted its stake in shares of Samsara Inc. (NYSE:IOT) by 288.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,080 shares of the company’s stock after acquiring an additional 8,974 shares during the period. Swedbank AB’s holdings in Samsara were worth $581,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Resources Management Corp CT ADV increased its position in shares of Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares in the last quarter. UMB Bank n.a. boosted its holdings in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the last quarter. National Bank of Canada FI acquired a new position in Samsara during the second quarter worth $38,000. Nemes Rush Group LLC acquired a new position in Samsara during the second quarter worth $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on IOT shares. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. TD Cowen raised their target price on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Loop Capital raised their target price on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Truist Financial raised their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Finally, BMO Capital Markets raised their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.67.

Samsara Stock Down 3.0 %

IOT stock opened at $53.73 on Thursday. Samsara Inc. has a 12 month low of $26.13 and a 12 month high of $57.51. The firm has a market cap of $29.89 billion, a P/E ratio of -111.94 and a beta of 1.52. The company’s 50-day moving average price is $49.70 and its two-hundred day moving average price is $41.76.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm’s revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.11) EPS. Equities analysts predict that Samsara Inc. will post -0.34 EPS for the current year.

Insider Activity at Samsara

In other news, insider Dominic Phillips sold 66,642 shares of Samsara stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.88, for a total value of $3,057,534.96. Following the completion of the sale, the insider now owns 882,664 shares in the company, valued at $40,496,624.32. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 12,500 shares of Samsara stock in a transaction on Friday, September 6th. The shares were sold at an average price of $45.00, for a total transaction of $562,500.00. Following the completion of the sale, the insider now owns 465,967 shares of the company’s stock, valued at $20,968,515. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,809,695 shares of company stock valued at $85,445,322. 60.04% of the stock is owned by insiders.

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.