Advisors Asset Management Inc. Lowers Holdings in Samsara Inc. (NYSE:IOT)

Advisors Asset Management Inc. reduced its stake in shares of Samsara Inc. (NYSE:IOT) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,936 shares of the company’s stock after selling 241 shares during the quarter. Advisors Asset Management Inc.’s holdings in Samsara were worth $141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after acquiring an additional 304 shares in the last quarter. UMB Bank n.a. grew 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 increased its holdings in shares of 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 last quarter. Cetera Advisors LLC lifted its position in shares of Samsara by 6.8% in the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after buying an additional 497 shares in the last quarter. Finally, Capstone Wealth Management Group LLC boosted its stake in Samsara by 2.3% during the third quarter. Capstone Wealth Management Group LLC now owns 26,660 shares of the company’s stock valued at $1,283,000 after buying an additional 610 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

Insiders Place Their Bets

In other Samsara news, CEO Sanjit Biswas sold 93,107 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,716,831.44. Following the completion of the sale, the chief executive officer now directly owns 76,800 shares in the company, valued at approximately $3,065,856. This represents a 54.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Bicket sold 75,600 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $55.89, for a total value of $4,225,284.00. Following the transaction, the insider now directly owns 400,020 shares in the company, valued at $22,357,117.80. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,809,695 shares of company stock worth $85,445,322 in the last three months. Corporate insiders own 60.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America upped their price objective on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. BNP Paribas assumed coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Loop Capital increased their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Wells Fargo & Company lifted their price target on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.67.

Samsara Stock Performance

Shares of IOT stock opened at $53.49 on Friday. The stock has a 50 day moving average price of $49.91 and a 200 day moving average price of $41.94. Samsara Inc. has a 52-week low of $26.86 and a 52-week high of $57.51. The firm has a market capitalization of $29.76 billion, a P/E ratio of -111.44 and a beta of 1.52.

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. The business 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 for the quarter 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. As a group, sell-side analysts forecast that Samsara Inc. will post -0.34 EPS for the current 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.