Mn Services Vermogensbeheer B.V. Decreases Stock Holdings in Samsara Inc. (NYSE:IOT)

Mn Services Vermogensbeheer B.V. reduced its stake in shares of Samsara Inc. (NYSE:IOT) by 7.7% in the first quarter, HoldingsChannel reports. The firm owned 61,100 shares of the company’s stock after selling 5,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Samsara were worth $2,342,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in IOT. FMR LLC boosted its stake in Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after purchasing an additional 2,852,575 shares in the last quarter. Jordan Park Trust Co LLC purchased a new stake in Samsara during the 4th quarter worth approximately $112,041,000. Norges Bank purchased a new stake in Samsara during the 4th quarter worth approximately $106,274,000. Arrowstreet Capital Limited Partnership grew its position in Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after purchasing an additional 2,148,081 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Samsara by 577.7% during the 4th quarter. Franklin Resources Inc. now owns 1,458,813 shares of the company’s stock worth $63,736,000 after purchasing an additional 1,243,561 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Piper Sandler reissued an “overweight” rating and issued a $53.00 price objective (up from $44.00) on shares of Samsara in a report on Wednesday, May 14th. Cowen reissued a “buy” rating on shares of Samsara in a report on Friday, March 7th. Royal Bank Of Canada cut their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, Wells Fargo & Company increased their price objective on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Insider Buying and Selling at Samsara

In other Samsara news, insider Sanjit Biswas sold 160,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $34.89, for a total value of $5,582,400.00. Following the sale, the insider now directly owns 108,000 shares of the company’s stock, valued at approximately $3,768,120. This trade represents a 59.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dominic Phillips sold 9,059 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.23, for a total value of $373,502.57. Following the completion of the sale, the insider now directly owns 887,493 shares in the company, valued at approximately $36,591,336.39. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,060,283 shares of company stock valued at $86,586,131. Company insiders own 46.49% of the company’s stock.

Samsara Stock Down 2.3%

Samsara stock opened at $38.22 on Wednesday. The firm has a market cap of $21.76 billion, a price-to-earnings ratio of -173.74 and a beta of 1.74. Samsara Inc. has a 52 week low of $28.12 and a 52 week high of $61.90. The business’s 50-day moving average price is $42.37 and its 200 day moving average price is $44.70.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The company had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same period last year, the company earned $0.03 earnings per share. Samsara’s quarterly revenue was up 30.7% compared to the same quarter last year. Equities analysts expect that Samsara Inc. will post -0.3 EPS for the current year.

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.