Wealth Enhancement Advisory Services LLC Sells 2,298 Shares of Samsara Inc. (NYSE:IOT)

Wealth Enhancement Advisory Services LLC reduced its position in shares of Samsara Inc. (NYSE:IOT) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,550 shares of the company’s stock after selling 2,298 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Samsara were worth $652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position in shares of Samsara by 18.1% during the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after purchasing an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. boosted its position in Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Samsara by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after purchasing an additional 500,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP raised its stake in shares of Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after purchasing an additional 243,170 shares during the period. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Price Performance

Shares of Samsara stock opened at $51.79 on Friday. Samsara Inc. has a 1 year low of $23.12 and a 1 year high of $51.83. The firm has a market cap of $28.81 billion, a PE ratio of -107.90 and a beta of 1.52. The company has a 50 day simple moving average of $47.03 and a two-hundred day simple moving average of $40.03.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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%. The firm’s revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) EPS. As a group, research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Samsara

In other news, insider John Bicket sold 78,128 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.51, for a total value of $3,164,965.28. Following the completion of the sale, the insider now directly owns 1,273,912 shares in the company, valued at approximately $51,606,175.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider John Bicket sold 78,128 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $40.51, for a total transaction of $3,164,965.28. Following the transaction, the insider now directly owns 1,273,912 shares of the company’s stock, valued at approximately $51,606,175.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 9,308 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total value of $471,357.12. Following the completion of the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $20,093,141.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,864,730 shares of company stock worth $84,375,885 over the last ninety days. Insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IOT. Royal Bank of Canada raised their price objective on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. BNP Paribas started coverage on shares of Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price target on the stock. Evercore ISI increased 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. Bank of America raised their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, StockNews.com downgraded Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.20.

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.