Avantax Advisory Services Inc. purchased a new stake in Samsara Inc. (NYSE:IOT – Get Rating) during the third quarter, according to its most recent filing with the SEC. The fund purchased 20,800 shares of the company's stock, valued at approximately $251,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. PointState Capital LP grew its position in shares of Samsara by 22.7% during the second quarter. PointState Capital LP now owns 4,469,452 shares of the company's stock valued at $49,924,000 after purchasing an additional 828,097 shares in the last quarter. Abdiel Capital Advisors LP purchased a new position in Samsara during the 2nd quarter valued at approximately $36,557,000. BlackRock Inc. increased its stake in Samsara by 17.3% in the 1st quarter. BlackRock Inc. now owns 3,227,576 shares of the company's stock worth $51,704,000 after acquiring an additional 477,013 shares during the last quarter. Lmdagg L.L.C. purchased a new position in shares of Samsara in the third quarter valued at $38,923,000. Finally, Vanguard Group Inc. increased its position in Samsara by 52.8% in the first quarter. Vanguard Group Inc. now owns 3,033,132 shares of the company's stock worth $48,591,000 after purchasing an additional 1,048,694 shares during the last quarter. 43.05% of the stock is currently owned by institutional investors.
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Insider Transactions at Samsara
In related news, insider Kiren Sekar sold 53,472 shares of Samsara stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $13.25, for a total value of $708,504.00. Following the completion of the sale, the insider now directly owns 343,781 shares in the company, valued at $4,555,098.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kiren Sekar sold 53,472 shares of the company's stock in a transaction that occurred on Thursday, January 26th. The shares were sold at an average price of $13.25, for a total value of $708,504.00. Following the completion of the sale, the insider now owns 343,781 shares of the company's stock, valued at approximately $4,555,098.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjit Biswas sold 23,866 shares of Samsara stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $11.45, for a total transaction of $273,265.70. Following the transaction, the chief executive officer now directly owns 91,438 shares in the company, valued at $1,046,965.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,132,845 shares of company stock valued at $13,619,172. 81.12% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
IOT has been the subject of a number of recent research reports. Royal Bank of Canada dropped their price objective on shares of Samsara from $19.00 to $14.00 and set an "outperform" rating for the company in a research note on Monday, November 28th. StockNews.com initiated coverage on Samsara in a research note on Wednesday, October 12th. They set a "sell" rating on the stock. Morgan Stanley decreased their price objective on Samsara from $18.00 to $17.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 22nd. Finally, Evercore ISI cut their target price on Samsara to $15.00 in a research report on Friday, December 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.38.
Samsara Price Performance
Shares of NYSE:IOT opened at $13.46 on Friday. The firm has a market capitalization of $6.98 billion and a PE ratio of -12.38. The business has a 50 day simple moving average of $11.70 and a two-hundred day simple moving average of $12.66. Samsara Inc. has a 1 year low of $8.42 and a 1 year high of $25.42.
Samsara (NYSE:IOT – Get Rating) last posted its quarterly earnings data on Thursday, December 1st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.03. Samsara had a negative return on equity of 21.98% and a negative net margin of 75.47%. The company had revenue of $169.80 million during the quarter, compared to analysts' expectations of $155.64 million. Equities research analysts expect that Samsara Inc. will post -0.51 EPS for the current fiscal year.
About Samsara
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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.
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