FORA Capital LLC Buys Shares of 76,566 Samsara Inc. (NYSE:IOT)

FORA Capital LLC purchased 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. The fund purchased 76,566 shares of the company’s stock, valued at approximately $3,684,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Resources Management Corp CT ADV increased its position in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the last quarter. UMB Bank n.a. increased its holdings in 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. National Bank of Canada FI bought a new position in Samsara during the second quarter valued at approximately $38,000. Nemes Rush Group LLC acquired a new stake in Samsara in the second quarter valued at approximately $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Samsara by 250.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after acquiring an additional 1,000 shares in the last quarter. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 93,107 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the completion of the transaction, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. This trade represents a 54.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,809,695 shares of company stock worth $85,445,322. Company insiders own 60.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Evercore ISI upped their price target on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Piper Sandler raised their price objective on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. BMO Capital Markets upped their target price on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada increased their price target on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Samsara currently has a consensus rating of “Hold” and a consensus price target of $45.67.

Samsara Stock Performance

NYSE IOT traded down $1.30 during midday trading on Wednesday, hitting $54.09. The company had a trading volume of 397,979 shares, compared to its average volume of 3,518,279. The firm has a fifty day simple moving average of $49.58 and a two-hundred day simple moving average of $41.67. Samsara Inc. has a fifty-two week low of $26.13 and a fifty-two week high of $57.51.

Samsara (NYSE:IOT) last released 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 the consensus estimate 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 for the quarter was up 36.9% compared to the same quarter last year. During the same period last year, the business earned ($0.11) earnings per share. Equities research analysts forecast 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.