Fmr LLC Has $572.18 Million Stock Position in Samsara Inc. (NYSE:IOT)

Fmr LLC increased its position in Samsara Inc. (NYSE:IOT) by 15.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,890,600 shares of the company’s stock after purchasing an additional 1,604,822 shares during the quarter. Fmr LLC’s holdings in Samsara were worth $572,176,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in Samsara by 23.4% in the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares during the period. 1832 Asset Management L.P. boosted its holdings in Samsara by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after buying an additional 500,400 shares during the last quarter. Westfield Capital Management Co. LP boosted its holdings in Samsara by 4.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock worth $168,741,000 after buying an additional 138,702 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Samsara by 55.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock worth $88,013,000 after buying an additional 650,982 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Samsara by 84.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,608,921 shares of the company’s stock worth $77,421,000 after buying an additional 734,619 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Trading Down 3.0 %

IOT stock opened at $53.74 on Friday. The firm has a market capitalization of $29.90 billion, a PE ratio of -111.96 and a beta of 1.52. Samsara Inc. has a 1-year low of $26.13 and a 1-year high of $57.51. The business’s 50 day simple moving average is $49.83 and its 200 day simple moving average is $41.84.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The business 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 firm’s revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.11) EPS. As a group, sell-side analysts predict that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 75,594 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the completion of the sale, the chief executive officer now directly owns 120,292 shares in the company, valued at approximately $6,723,119.88. This represents a 38.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. This represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,809,695 shares of company stock valued at $85,445,322 in the last ninety days. 60.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IOT shares. BMO Capital Markets lifted their price objective on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Loop Capital lifted their price objective on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. TD Cowen boosted their target price on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Piper Sandler boosted their target price on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Evercore ISI boosted their target price on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.67.

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.