Samsara Inc. (NYSE:IOT) Major Shareholder Gc Venture Viii-B, Llc Sells 1,978 Shares of Stock

Samsara Inc. (NYSE:IOT) major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $46.44, for a total transaction of $91,858.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Samsara Trading Up 0.1 %

Shares of NYSE:IOT opened at $47.59 on Friday. The firm has a 50 day moving average of $39.93 and a 200-day moving average of $36.80. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $48.98. The stock has a market capitalization of $26.21 billion, a PE ratio of -95.18 and a beta of 1.50.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Resources Management Corp CT ADV grew its holdings in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the last quarter. Quarry LP acquired a new position in shares of Samsara during the fourth quarter worth $37,000. National Bank of Canada FI bought a new position in shares of Samsara in the 2nd quarter valued at $38,000. Nemes Rush Group LLC acquired a new stake in shares of Samsara during the 2nd quarter valued at $45,000. Finally, Tradition Wealth Management LLC bought a new stake in Samsara during the 4th quarter worth $46,000. Institutional investors own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. TD Cowen upped their price objective on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price target on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada upped their target price on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Samsara presently has an average rating of “Moderate Buy” and an average target price 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.