Miracle Mile Advisors LLC Makes New $339,000 Investment in Samsara Inc. (NYSE:IOT)

Miracle Mile Advisors LLC bought a new stake in shares of Samsara Inc. (NYSE:IOT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,050 shares of the company’s stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Handelsbanken Fonder AB boosted its position in Samsara by 17.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 47,000 shares of the company’s stock valued at $2,262,000 after purchasing an additional 7,100 shares during the period. SG Americas Securities LLC acquired a new position in shares of Samsara during the third quarter valued at $526,000. Central Pacific Bank Trust Division grew its position in shares of Samsara by 913.3% during the third quarter. Central Pacific Bank Trust Division now owns 14,379 shares of the company’s stock worth $692,000 after acquiring an additional 12,960 shares during the last quarter. Cim LLC acquired a new stake in shares of Samsara in the 2nd quarter worth about $1,049,000. Finally, Nemes Rush Group LLC bought a new stake in Samsara in the 2nd quarter valued at about $45,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IOT has been the topic of several analyst reports. Loop Capital raised their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Morgan Stanley raised their target price on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price target on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. TD Cowen raised their price target on Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Finally, Truist Financial upped their price objective on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $42.33.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the transaction, the insider now owns 465,967 shares in the company, valued at $17,608,892.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at approximately $17,608,892.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjit Biswas sold 59,112 shares of Samsara stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $38.05, for a total transaction of $2,249,211.60. Following the completion of the transaction, the chief executive officer now directly owns 1,311,187 shares in the company, valued at approximately $49,890,665.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,940,034 shares of company stock valued at $81,749,167 over the last three months. Company insiders own 60.04% of the company’s stock.

Samsara Trading Down 1.1 %

NYSE:IOT opened at $47.25 on Wednesday. The company has a 50-day moving average of $42.80 and a 200-day moving average of $37.85. Samsara Inc. has a twelve month low of $21.48 and a twelve month high of $50.07. The firm has a market cap of $26.03 billion, a price-to-earnings ratio of -94.50 and a beta of 1.52.

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