State of New Jersey Common Pension Fund D Sells 27,212 Shares of Samsara Inc. (NYSE:IOT)

State of New Jersey Common Pension Fund D lowered its stake in Samsara Inc. (NYSE:IOT) by 26.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 76,173 shares of the company’s stock after selling 27,212 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Samsara were worth $2,567,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IOT. Quarry LP bought a new stake in Samsara in the fourth quarter valued at approximately $37,000. National Bank of Canada FI bought a new position in shares of Samsara during the second quarter valued at approximately $38,000. Tradition Wealth Management LLC bought a new position in shares of Samsara during the fourth quarter valued at approximately $46,000. Ulland Investment Advisors LLC raised its holdings in shares of Samsara by 33.6% during the first quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock valued at $75,000 after acquiring an additional 500 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in shares of Samsara during the first quarter valued at approximately $94,000. Institutional investors own 89.39% of the company’s stock.

Insider Activity at Samsara

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the sale, the chief executive officer now directly owns 1,466,299 shares of the company’s stock, valued at $43,241,157.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. Insiders have sold 2,047,254 shares of company stock valued at $82,255,010 over the last ninety days. Insiders own 60.04% of the company’s stock.

Samsara Trading Up 0.0 %

NYSE IOT opened at $47.56 on Thursday. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $48.11. The stock has a market cap of $26.20 billion, a P/E ratio of -95.12 and a beta of 1.50. The stock’s fifty day moving average price is $39.93 and its 200-day moving average price is $36.80.

Samsara (NYSE:IOT) last released its earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on IOT shares. Piper Sandler upped their target price on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Royal Bank of Canada upped their target price on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Morgan Stanley upped their target price on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Bank of America increased 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. Finally, BMO Capital Markets increased their price objective on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $42.07.

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.