Elo Mutual Pension Insurance Co Buys 3,130 Shares of Samsara Inc. (NYSE:IOT)

Elo Mutual Pension Insurance Co lifted its stake in shares of Samsara Inc. (NYSE:IOT) by 20.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,591 shares of the company’s stock after acquiring an additional 3,130 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Samsara were worth $627,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new position in Samsara in the 4th quarter worth $37,000. National Bank of Canada FI acquired a new position in shares of Samsara during the second quarter worth about $38,000. Tradition Wealth Management LLC acquired a new position in shares of Samsara during the fourth quarter worth about $46,000. Ulland Investment Advisors LLC grew 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 worth $75,000 after buying an additional 500 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in Samsara in the 1st quarter valued at approximately $94,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Performance

Shares of Samsara stock opened at $49.39 on Friday. The firm has a 50-day moving average of $40.39 and a 200-day moving average of $37.00. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $49.56. The stock has a market cap of $27.20 billion, a PE ratio of -98.78 and a beta of 1.50.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the previous year, the firm earned ($0.11) EPS. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. Equities research analysts predict that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IOT has been the topic of a number of research reports. TD Cowen boosted their price objective on shares of Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Piper Sandler boosted their price target on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Evercore ISI raised their price objective on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their target price on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, BMO Capital Markets raised their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.07.

Insider Buying and Selling at Samsara

In other news, CAO James Andrew Munk sold 1,093 shares of the company’s 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 sale, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sanjit Biswas sold 96,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the transaction, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. The disclosure for this sale can be found here. Insiders have sold a total of 2,049,232 shares of company stock valued at $82,346,868 in the last ninety days. 60.04% of the stock is currently owned by company insiders.

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.