The Manufacturers Life Insurance Company Purchases 5,897 Shares of Samsara Inc. (NYSE:IOT)

The Manufacturers Life Insurance Company boosted its position in shares of Samsara Inc. (NYSE:IOT) by 14.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,723 shares of the company’s stock after buying an additional 5,897 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Samsara were worth $2,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Resources Management Corp CT ADV raised its stake in shares of Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after acquiring an additional 490 shares during the last quarter. National Bank of Canada FI purchased a new position in Samsara during the 2nd quarter valued at about $38,000. Nemes Rush Group LLC bought a new position in Samsara during the 2nd quarter valued at approximately $45,000. UMB Bank n.a. lifted its holdings in Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IOT. Morgan Stanley raised their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their target price on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler increased their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday. BMO Capital Markets lifted their price objective on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Loop Capital increased their target price on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.29.

Samsara Trading Down 5.2 %

Samsara stock opened at $52.27 on Monday. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $57.51. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of -111.21 and a beta of 1.53. The business’s fifty day simple moving average is $50.44 and its two-hundred day simple moving average is $42.42.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 net margin of 24.19% and a negative return on equity of 20.39%. Samsara’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.11) EPS. On average, equities research analysts predict that Samsara Inc. will post -0.34 EPS for the current year.

Insider Transactions at Samsara

In other Samsara news, insider Adam Eltoukhy sold 5,008 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.30, for a total value of $236,878.40. Following the completion of the transaction, the insider now owns 455,797 shares of the company’s stock, valued at approximately $21,559,198.10. The trade was a 1.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were 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. Over the last 90 days, insiders have sold 1,873,300 shares of company stock worth $91,752,243. Corporate insiders own 60.04% of the company’s stock.

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.