Arizona State Retirement System Has $254,000 Stake in Samsara Inc. (NYSE:IOT)

Arizona State Retirement System increased its position in shares of Samsara Inc. (NYSE:IOT – Get Rating) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,436 shares of the company’s stock after acquiring an additional 754 shares during the quarter. Arizona State Retirement System’s holdings in Samsara were worth $254,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Samsara during the 2nd quarter worth approximately $33,000. IFP Advisors Inc bought a new position in Samsara during the 3rd quarter worth approximately $44,000. RFP Financial Group LLC bought a new position in Samsara during the 4th quarter worth approximately $44,000. BNP Paribas Arbitrage SNC bought a new position in Samsara during the 3rd quarter worth approximately $45,000. Finally, New York State Common Retirement Fund bought a new position in Samsara during the 3rd quarter worth approximately $51,000. Institutional investors own 43.05% of the company’s stock.

Insider Buying and Selling

In related news, insider John Bicket sold 54,790 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $16.53, for a total transaction of $905,678.70. Following the transaction, the insider now directly owns 27,807 shares in the company, valued at $459,649.71. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider John Bicket sold 54,790 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $16.53, for a total transaction of $905,678.70. Following the transaction, the insider now directly owns 27,807 shares in the company, valued at $459,649.71. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 10,000 shares of the company’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the completion of 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. Over the last three months, insiders have sold 5,137,917 shares of company stock worth $98,155,723. Insiders own 66.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler assumed coverage on shares of Samsara in a research note on Wednesday, March 15th. They issued a “neutral” rating and a $21.00 price target on the stock. StockNews.com assumed coverage on shares of Samsara in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Morgan Stanley lowered shares of Samsara from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $18.00 to $19.00 in a research note on Thursday, March 23rd. Royal Bank of Canada lifted their price target on shares of Samsara from $15.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, February 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Samsara from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.82.

Samsara Trading Down 2.4 %

Shares of IOT opened at $19.76 on Wednesday. The company has a market cap of $10.36 billion, a price-to-earnings ratio of -41.17 and a beta of 1.01. Samsara Inc. has a 1-year low of $8.42 and a 1-year high of $22.59. The company’s fifty day simple moving average is $19.38 and its 200 day simple moving average is $15.43.

Samsara (NYSE:IOT – Get Rating) last issued its earnings results on Thursday, March 2nd. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.11. The business had revenue of $186.58 million for the quarter, compared to the consensus estimate of $172.77 million. Samsara had a negative net margin of 37.92% and a negative return on equity of 21.20%. As a group, research analysts forecast that Samsara Inc. will post -0.42 earnings per share for the current year.

Samsara Company Profile

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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.