Raymond James & Associates Acquires Shares of 44,305 Samsara Inc. (NYSE:IOT)

Raymond James & Associates bought a new position in shares of Samsara Inc. (NYSE:IOT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 44,305 shares of the company’s stock, valued at approximately $1,479,000.

Several other institutional investors and hedge funds have also made changes to their positions in IOT. CHURCHILL MANAGEMENT Corp purchased a new position in Samsara in the 4th quarter worth about $854,000. TrueMark Investments LLC purchased a new position in shares of Samsara during the fourth quarter worth approximately $2,475,000. Spence Asset Management increased its position in shares of Samsara by 1.4% during the fourth quarter. Spence Asset Management now owns 232,030 shares of the company’s stock worth $7,745,000 after acquiring an additional 3,120 shares during the period. Vanguard Group Inc. raised its stake in shares of Samsara by 6.7% during the third quarter. Vanguard Group Inc. now owns 14,342,618 shares of the company’s stock valued at $361,577,000 after acquiring an additional 898,428 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Samsara by 54.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 105,316 shares of the company’s stock valued at $2,656,000 after purchasing an additional 37,316 shares during the period. 89.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on IOT shares. Loop Capital began coverage on Samsara in a report on Thursday. They set a “buy” rating and a $42.00 price objective on the stock. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Samsara presently has an average rating of “Hold” and a consensus target price of $32.60.

Samsara Stock Performance

IOT stock opened at $31.02 on Friday. Samsara Inc. has a one year low of $16.63 and a one year high of $40.54. The firm has a market cap of $17.08 billion, a price-to-earnings ratio of -58.53 and a beta of 1.56. The firm has a 50-day simple moving average of $34.84 and a two-hundred day simple moving average of $31.15.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $276.27 million for the quarter, compared to analyst estimates of $258.56 million. Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. As a group, equities analysts predict that Samsara Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $30.73, for a total value of $2,950,080.00. Following the completion of the sale, the chief executive officer now directly owns 1,115,921 shares in the company, valued at $34,292,252.33. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $30.73, for a total value of $2,950,080.00. Following the completion of the transaction, the chief executive officer now directly owns 1,115,921 shares of the company’s stock, valued at approximately $34,292,252.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO James Andrew Munk sold 9,714 shares of Samsara stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $35.46, for a total transaction of $344,458.44. Following the completion of the sale, the chief accounting officer now owns 307,185 shares of the company’s stock, valued at $10,892,780.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,697,460 shares of company stock worth $58,277,505 in the last ninety days. 66.14% 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.