Cornerstone Wealth Management LLC Makes New Investment in Samsara Inc. (NYSE:IOT)

Cornerstone Wealth Management LLC bought a new stake in shares of Samsara Inc. (NYSE:IOT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,740 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IOT. Resources Management Corp CT ADV raised its stake in shares of Samsara by 104.0% in the 2nd 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 in the last quarter. National Bank of Canada FI acquired a new position in Samsara during the second quarter valued at approximately $38,000. Nemes Rush Group LLC bought a new position in shares of Samsara in the second quarter valued at approximately $45,000. UMB Bank n.a. lifted its stake in shares of Samsara by 69.1% in the third 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 last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Samsara by 250.0% during 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 period. Institutional investors and hedge funds own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

IOT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. TD Cowen boosted their price objective on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. BNP Paribas initiated coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price on the stock. Royal Bank of Canada upped their price target on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Finally, Piper Sandler raised their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.00.

Samsara Stock Up 1.7 %

NYSE IOT opened at $50.00 on Friday. Samsara Inc. has a twelve month low of $21.48 and a twelve month high of $51.53. The stock has a market cap of $27.54 billion, a P/E ratio of -100.00 and a beta of 1.52. The company’s 50-day simple moving average is $45.07 and its 200 day simple moving average is $38.61.

Samsara (NYSE:IOT) last released 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. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The company’s revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) EPS. Research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were 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 SEC, which is available at this hyperlink. In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Bicket sold 82,925 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $38.08, for a total value of $3,157,784.00. Following the sale, the insider now owns 1,557,115 shares in the company, valued at approximately $59,294,939.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,016,136 shares of company stock worth $86,642,585 over the last three months. 60.04% of the stock is currently owned by corporate 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.