Brighton Jones LLC Invests $12.32 Million in Samsara Inc. (NYSE:IOT)

Brighton Jones LLC purchased a new stake in shares of Samsara Inc. (NYSE:IOT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 365,576 shares of the company’s stock, valued at approximately $12,320,000. Brighton Jones LLC owned about 0.07% of Samsara as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its stake in Samsara by 9.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 15,104 shares of the company’s stock valued at $504,000 after acquiring an additional 1,340 shares during the period. Norges Bank purchased a new stake in Samsara in the fourth quarter worth about $11,693,000. Coldstream Capital Management Inc. bought a new position in Samsara in the fourth quarter worth about $206,000. AXS Investments LLC bought a new position in Samsara in the fourth quarter worth about $334,000. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Samsara by 23.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,985,589 shares of the company’s stock valued at $66,279,000 after acquiring an additional 372,073 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors.

Samsara Trading Up 0.1 %

Samsara stock opened at $47.59 on Friday. The firm has a market capitalization of $26.21 billion, a P/E ratio of -95.18 and a beta of 1.50. The stock has a fifty day moving average price of $39.93 and a 200 day moving average price of $36.80. Samsara Inc. has a 52 week low of $21.48 and a 52 week high of $48.98.

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

Insiders Place Their Bets

In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the sale, the insider now directly owns 465,967 shares in the company, valued at $17,608,892.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the sale, the chief executive officer now owns 1,466,299 shares in the company, valued at $43,241,157.51. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the sale, the insider now owns 465,967 shares of the company’s stock, valued at approximately $17,608,892.93. The disclosure for this sale can be found here. Insiders sold 2,049,232 shares of company stock worth $82,346,868 over the last three months. 60.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on IOT shares. Piper Sandler increased their price target on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Bank of America increased their target price on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley increased their price objective on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their target price on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Finally, Truist Financial raised their target price on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.07.

Samsara Company 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.