Empowered Funds LLC Has $469,000 Position in Samsara Inc. (NYSE:IOT)

Empowered Funds LLC raised its stake in Samsara Inc. (NYSE:IOT) by 55.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,750 shares of the company’s stock after purchasing an additional 3,463 shares during the period. Empowered Funds LLC’s holdings in Samsara were worth $469,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IOT. Advisors Asset Management Inc. raised its position in Samsara by 9.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after buying an additional 280 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after purchasing an additional 304 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after purchasing an additional 418 shares in the last quarter. Resources Management Corp CT ADV boosted its holdings in Samsara by 104.0% during 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 last quarter. Finally, Cetera Advisors LLC grew its position in Samsara by 6.8% in the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after purchasing an additional 497 shares in the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

Insider Transactions at Samsara

In other news, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the transaction, the chief accounting officer now directly owns 319,667 shares in the company, valued at approximately $15,123,445.77. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,826,114 shares of company stock worth $84,024,779. 60.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IOT has been the subject of a number of recent analyst reports. Loop Capital upped their price objective on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. BMO Capital Markets raised their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Morgan Stanley boosted their target price on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price target on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price objective on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Samsara has a consensus rating of “Hold” and a consensus target price of $45.67.

Samsara Stock Performance

Shares of IOT stock opened at $56.35 on Monday. The company has a market capitalization of $31.35 billion, a P/E ratio of -117.40 and a beta of 1.52. Samsara Inc. has a fifty-two week low of $26.13 and a fifty-two week high of $56.76. The stock has a 50 day moving average price of $49.25 and a two-hundred day moving average price of $41.45.

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