Exchange Traded Concepts LLC grew its position in Samsara Inc. (NYSE:IOT – Get Rating) by 4,795.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,237,033 shares of the company’s stock after purchasing an additional 1,211,763 shares during the period. Exchange Traded Concepts LLC owned approximately 0.24% of Samsara worth $15,376,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of IOT. TFC Financial Management purchased a new stake in Samsara in the third quarter valued at approximately $36,000. UNC Management Company Inc. purchased a new stake in shares of Samsara in the 3rd quarter valued at $449,000. Railway Pension Investments Ltd acquired a new stake in shares of Samsara in the third quarter worth $224,000. Lmdagg L.L.C. purchased a new position in shares of Samsara during the third quarter worth $38,923,000. Finally, Abdiel Capital Advisors LP lifted its position in Samsara by 1.7% during the third quarter. Abdiel Capital Advisors LP now owns 3,326,902 shares of the company’s stock valued at $40,156,000 after purchasing an additional 54,151 shares during the period. 43.05% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. BMO Capital Markets increased their price target on Samsara from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Friday, March 3rd. Wells Fargo & Company lifted their price target on Samsara from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, March 3rd. Morgan Stanley downgraded Samsara from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $18.00 to $19.00 in a report on Thursday, March 23rd. Piper Sandler started coverage on shares of Samsara in a research note on Wednesday, March 15th. They set a “neutral” rating and a $21.00 price objective on the stock. Finally, The Goldman Sachs Group upgraded shares of Samsara from a “neutral” rating to a “buy” rating and boosted their target price for the company from $16.00 to $27.00 in a research note on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Samsara has a consensus rating of “Hold” and an average price target of $22.00.
Samsara Stock Up 1.6 %
IOT opened at $19.00 on Friday. The firm’s fifty day simple moving average is $17.47 and its two-hundred day simple moving average is $13.67. Samsara Inc. has a 52-week low of $8.42 and a 52-week high of $21.49. The company has a market cap of $9.96 billion, a price-to-earnings ratio of -39.58 and a beta of 1.04.
Samsara (NYSE:IOT – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.11. Samsara had a negative net margin of 37.92% and a negative return on equity of 21.20%. The firm had revenue of $186.58 million during the quarter, compared to the consensus estimate of $172.77 million. On average, research analysts forecast that Samsara Inc. will post -0.42 EPS for the current year.
Insider Transactions at Samsara
In related news, insider Adam Eltoukhy sold 10,000 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the insider now directly owns 911,402 shares of the company’s stock, valued at approximately $18,228,040. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 23,866 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $11.45, for a total value of $273,265.70. Following the transaction, the chief executive officer now directly owns 91,438 shares of the company’s stock, valued at approximately $1,046,965.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam Eltoukhy sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the transaction, the insider now owns 911,402 shares in the company, valued at $18,228,040. The disclosure for this sale can be found here. Insiders have sold 5,309,272 shares of company stock valued at $96,701,508 over the last ninety days. Insiders own 81.12% of the company’s stock.
Samsara Company Profile
Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.