Acadian Asset Management LLC Has $402,000 Stock Holdings in Samsara Inc. (NYSE:IOT)

Acadian Asset Management LLC decreased its stake in shares of Samsara Inc. (NYSE:IOT) by 51.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,972 shares of the company’s stock after selling 12,516 shares during the period. Acadian Asset Management LLC’s holdings in Samsara were worth $402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Baillie Gifford & Co. increased its holdings in Samsara by 18.1% during the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after purchasing an additional 4,207,974 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after buying an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. raised its position in Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after buying an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. raised its position in Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after buying an additional 3,853,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Samsara by 12.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after acquiring an additional 243,170 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Trading Up 0.0 %

IOT stock opened at $47.56 on Thursday. The business’s 50 day simple moving average is $39.93 and its 200 day simple moving average is $36.80. Samsara Inc. has a 1-year low of $21.48 and a 1-year high of $48.11. The firm has a market capitalization of $26.20 billion, a PE ratio of -95.12 and a beta of 1.50.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company’s revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts predict that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IOT has been the subject of several research reports. Piper Sandler raised their price target on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. BMO Capital Markets raised their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Loop Capital boosted their price target on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada raised their price objective on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their target price on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of “Moderate Buy” and a consensus target price of $42.07.

Insiders Place Their Bets

In other news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at $15,123,445.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,466,299 shares in the company, valued at $43,241,157.51. The disclosure for this sale can be found here. Insiders sold 2,047,254 shares of company stock worth $82,255,010 over the last three months. Insiders own 60.04% of the company’s stock.

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.