Andar Capital Management HK Ltd Invests $2.02 Million in Samsara Inc. (NYSE:IOT)

Andar Capital Management HK Ltd purchased a new position in shares of Samsara Inc. (NYSE:IOT) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 60,000 shares of the company’s stock, valued at approximately $2,022,000. Samsara accounts for about 2.8% of Andar Capital Management HK Ltd’s portfolio, making the stock its 15th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Samsara in the 4th quarter valued at about $37,000. National Bank of Canada FI acquired a new position in shares of Samsara in the 2nd quarter valued at about $38,000. Tradition Wealth Management LLC acquired a new position in shares of Samsara in the 4th quarter valued at about $46,000. Ulland Investment Advisors LLC lifted its holdings in shares of Samsara by 33.6% in the 1st quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock valued at $75,000 after buying an additional 500 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Samsara in the 1st quarter valued at about $94,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Insider Activity at Samsara

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction that occurred 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 legal filing with the SEC, which is available through this link. In related news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares in the company, valued at $15,123,445.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 1,858,859 shares of company stock worth $73,525,632. Insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

IOT has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company boosted their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price objective on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Evercore ISI lifted their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Finally, StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.07.

Samsara Price Performance

IOT stock opened at $47.59 on Wednesday. The business has a 50 day simple moving average of $39.68 and a 200-day simple moving average of $36.73. The firm has a market capitalization of $26.21 billion, a PE ratio of -95.18 and a beta of 1.50. Samsara Inc. has a 1 year low of $21.48 and a 1 year high of $47.79.

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, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million during 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 business’s revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) earnings per share. On average, equities research analysts expect that Samsara Inc. will post -0.34 EPS for the current 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.