Samsara Inc. (NYSE:IOT) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc lessened its holdings in Samsara Inc. (NYSE:IOT) by 14.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,765 shares of the company’s stock after selling 3,400 shares during the quarter. Morse Asset Management Inc’s holdings in Samsara were worth $666,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its holdings in shares of 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 period. Cetera Advisors LLC boosted its stake in Samsara by 6.8% in the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after acquiring an additional 497 shares during the period. 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 valued at $75,000 after purchasing an additional 500 shares during the last quarter. Sands Capital Ventures LLC raised its position in shares of Samsara by 18.7% during the 2nd quarter. Sands Capital Ventures LLC now owns 4,239 shares of the company’s stock worth $143,000 after purchasing an additional 669 shares during the period. Finally, Nvwm LLC lifted its holdings in shares of Samsara by 4.2% in the 1st quarter. Nvwm LLC now owns 17,239 shares of the company’s stock worth $651,000 after purchasing an additional 689 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

Insider Buying and Selling

In other Samsara 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 value of $2,831,040.00. Following the transaction, the chief executive officer now owns 1,466,299 shares of the company’s stock, valued at $43,241,157.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $14,894,042.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,049,232 shares of company stock worth $82,346,868. Corporate insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on IOT shares. Royal Bank of Canada upped their price objective on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Evercore ISI increased their price objective on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Loop Capital lifted their price objective on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley upped their target price on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company lifted their price target on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Samsara Stock Up 3.8 %

Shares of Samsara stock opened at $49.39 on Monday. The business has a fifty day simple moving average of $40.39 and a 200-day simple moving average of $37.00. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $49.56. The firm has a market cap of $27.20 billion, a price-to-earnings ratio of -98.78 and a beta of 1.50.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share 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 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 was up 36.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) EPS. Analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Samsara Company 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.