Skandinaviska Enskilda Banken AB publ Purchases 3,300 Shares of Samsara Inc. (NYSE:IOT)

Skandinaviska Enskilda Banken AB publ boosted its position in Samsara Inc. (NYSE:IOT) by 9.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,853 shares of the company’s stock after acquiring an additional 3,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Samsara were worth $1,309,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in Samsara by 19.3% in the second quarter. Canada Pension Plan Investment Board now owns 621,200 shares of the company’s stock valued at $20,934,000 after acquiring an additional 100,300 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Samsara by 85.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,030 shares of the company’s stock valued at $237,000 after acquiring an additional 3,245 shares during the last quarter. Brighton Jones LLC bought a new position in Samsara in the second quarter valued at about $12,320,000. Hsbc Holdings PLC boosted its holdings in Samsara by 46.4% in the second quarter. Hsbc Holdings PLC now owns 56,231 shares of the company’s stock valued at $1,890,000 after acquiring an additional 17,819 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its holdings in Samsara by 20.2% in the second quarter. Elo Mutual Pension Insurance Co now owns 18,591 shares of the company’s stock valued at $627,000 after acquiring an additional 3,130 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IOT shares. Bank of America raised their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Wolfe Research restated an “outperform” rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. TD Cowen raised their target price on Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler raised their target price on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Morgan Stanley raised their target price on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.07.

Insider Transactions at Samsara

In other news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $34.23, for a total transaction of $3,286,080.00. Following the completion of the transaction, the chief executive officer now directly owns 115,200 shares in the company, valued at approximately $3,943,296. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $34.23, for a total transaction of $3,286,080.00. Following the completion of the transaction, the chief executive officer now directly owns 115,200 shares in the company, valued at approximately $3,943,296. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dominic Phillips sold 21,112 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $34.42, for a total value of $726,675.04. Following the completion of the sale, the insider now owns 1,010,326 shares of the company’s stock, valued at $34,775,420.92. The disclosure for this sale can be found here. In the last three months, insiders sold 1,953,232 shares of company stock worth $79,515,828. 60.04% of the stock is owned by company insiders.

Samsara Stock Up 0.2 %

IOT stock opened at $49.47 on Tuesday. The business has a 50 day moving average price of $40.63 and a two-hundred day moving average price of $37.13. The company has a market cap of $27.25 billion, a price-to-earnings ratio of -98.94 and a beta of 1.50. Samsara Inc. has a twelve month low of $21.48 and a twelve month high of $49.78.

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