Samsara Inc. (NYSE:IOT) Major Shareholder Sells $91,858.32 in Stock

Samsara Inc. (NYSE:IOT) major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $46.44, for a total transaction of $91,858.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Samsara Trading Up 3.8 %

Samsara stock opened at $49.39 on Friday. Samsara Inc. has a 12-month low of $21.48 and a 12-month high of $49.56. The stock has a market cap of $27.20 billion, a P/E ratio of -98.78 and a beta of 1.50. The company has a 50-day moving average price of $40.39 and a 200 day moving average price of $37.00.

Samsara (NYSE:IOT) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $289.53 million. During the same period last year, the business earned ($0.11) earnings per share. Samsara’s revenue was up 36.9% compared to the same quarter last year. As a group, analysts forecast that Samsara Inc. will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Samsara

Institutional investors have recently made changes to their positions in the stock. Boulder Hill Capital Management LP acquired a new stake in shares of Samsara during the fourth quarter valued at about $1,115,000. Charles Schwab Investment Management Inc. increased its position in shares of Samsara by 9.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock valued at $32,360,000 after acquiring an additional 79,773 shares during the last quarter. CHURCHILL MANAGEMENT Corp increased its position in shares of Samsara by 135.6% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock valued at $2,277,000 after acquiring an additional 34,679 shares during the last quarter. Mission Wealth Management LP acquired a new stake in shares of Samsara during the first quarter valued at about $1,100,000. Finally, Quarry LP acquired a new stake in shares of Samsara during the fourth quarter valued at about $37,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on IOT shares. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Bank of America increased their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their target price on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

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.