SG Americas Securities LLC Makes New $526,000 Investment in Samsara Inc. (NYSE:IOT)

SG Americas Securities LLC purchased a new stake in shares of Samsara Inc. (NYSE:IOT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,939 shares of the company’s stock, valued at approximately $526,000.

A number of other hedge funds and other institutional investors have also modified their holdings of IOT. Resources Management Corp CT ADV lifted its position in Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the period. Quarry LP bought a new position in Samsara during the fourth quarter valued at about $37,000. National Bank of Canada FI acquired a new position in Samsara during the second quarter worth about $38,000. Nemes Rush Group LLC bought a new stake in Samsara in the second quarter worth about $45,000. Finally, UniSuper Management Pty Ltd acquired a new stake in Samsara in the 1st quarter valued at about $94,000. 89.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on IOT. Wells Fargo & Company boosted their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Truist Financial increased their price objective on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 6th. BMO Capital Markets lifted their target price on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Royal Bank of Canada increased their price target on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Samsara presently has a consensus rating of “Hold” and a consensus price target of $43.00.

Insider Activity

In other Samsara news, insider Adam Eltoukhy sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $50.00, for a total value of $200,000.00. Following the completion of the sale, the insider now owns 396,784 shares of the company’s stock, valued at $19,839,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Eltoukhy sold 4,000 shares of Samsara stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $200,000.00. Following the completion of the transaction, the insider now owns 396,784 shares in the company, valued at $19,839,200. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,948,089 shares of company stock worth $83,198,447. 60.04% of the stock is owned by corporate insiders.

Samsara Price Performance

Shares of NYSE IOT opened at $50.27 on Wednesday. Samsara Inc. has a one year low of $21.48 and a one year high of $51.53. The business’s 50-day moving average price is $44.35 and its two-hundred day moving average price is $38.33. The company has a market capitalization of $27.69 billion, a P/E ratio of -100.54 and a beta of 1.52.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.11) EPS. On average, equities analysts anticipate that Samsara Inc. will post -0.34 EPS for the current year.

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.