Raymond James & Associates Invests $1.48 Million in Samsara Inc. (NYSE:IOT)

Raymond James & Associates bought a new stake in Samsara Inc. (NYSE:IOT) during the fourth quarter, Holdings Channel.com reports. The fund bought 44,305 shares of the company’s stock, valued at approximately $1,479,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Wyoming purchased a new position in shares of Samsara during the fourth quarter worth about $27,000. Fred Alger Management LLC purchased a new position in Samsara during the 3rd quarter worth approximately $28,000. Macquarie Group Ltd. increased its position in Samsara by 37.3% during the fourth quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock worth $30,000 after buying an additional 649 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Samsara in the second quarter valued at approximately $33,000. Finally, Ulland Investment Advisors LLC grew its position in shares of Samsara by 67.4% during the third quarter. Ulland Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $38,000 after acquiring an additional 600 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $39.26, for a total value of $3,768,960.00. Following the completion of the sale, the chief executive officer now directly owns 1,307,921 shares of the company’s stock, valued at approximately $51,348,978.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $39.26, for a total value of $3,768,960.00. Following the completion of the transaction, the chief executive officer now owns 1,307,921 shares in the company, valued at $51,348,978.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Bicket sold 92,190 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $31.93, for a total value of $2,943,626.70. Following the completion of the sale, the insider now directly owns 655,982 shares of the company’s stock, valued at approximately $20,945,505.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,697,460 shares of company stock worth $58,277,505. Company insiders own 66.14% of the company’s stock.

Samsara Stock Performance

Shares of IOT opened at $31.02 on Friday. The stock has a market capitalization of $17.08 billion, a P/E ratio of -58.53 and a beta of 1.56. Samsara Inc. has a 1 year low of $16.63 and a 1 year high of $40.54. The company’s fifty day moving average is $34.84 and its two-hundred day moving average is $31.15.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The business had revenue of $276.27 million for the quarter, compared to analyst estimates of $258.56 million. Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. Sell-side analysts predict that Samsara Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IOT shares. Loop Capital assumed coverage on shares of Samsara in a research report on Thursday. They issued a “buy” rating and a $42.00 price target for the company. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $32.60.

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.