Cim LLC Purchases Shares of 31,120 Samsara Inc. (NYSE:IOT)

Cim LLC acquired a new stake in shares of Samsara Inc. (NYSE:IOT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 31,120 shares of the company’s stock, valued at approximately $1,049,000.

A number of other hedge funds also recently made changes to their positions in the stock. Baillie Gifford & Co. grew its position in Samsara by 18.1% in the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after acquiring an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. grew its position in Samsara by 102.1% in the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after acquiring an additional 3,853,400 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Samsara by 18.8% in 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 acquiring an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Samsara in the 2nd quarter worth $29,464,000. 89.39% of the stock is owned by institutional investors.

Samsara Trading Down 2.9 %

Shares of IOT stock opened at $46.73 on Wednesday. The stock has a market capitalization of $25.74 billion, a P/E ratio of -93.46 and a beta of 1.50. The firm’s 50 day moving average is $42.00 and its 200 day moving average is $37.57. Samsara Inc. has a 12-month low of $21.48 and a 12-month high of $50.07.

Samsara (NYSE:IOT) last posted its 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 company had revenue of $300.20 million for 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%. Samsara’s revenue was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) earnings per share. As a group, equities analysts predict that Samsara Inc. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on IOT shares. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Loop Capital boosted their price objective on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Piper Sandler lifted their target price 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. Truist Financial increased their price target on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets boosted their price objective 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $34.76, for a total value of $3,336,960.00. Following the transaction, the chief executive officer now directly owns 1,370,299 shares in the company, valued at $47,631,593.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of the business’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 owns 465,967 shares of the company’s stock, valued at $17,608,892.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $34.76, for a total value of $3,336,960.00. Following the completion of the transaction, the chief executive officer now directly owns 1,370,299 shares in the company, valued at approximately $47,631,593.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,919,287 shares of company stock worth $79,619,695. 60.04% of the stock is owned by company insiders.

About Samsara

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.