Raymond James & Associates Trims Stock Holdings in Samsara Inc. (NYSE:IOT)

Raymond James & Associates lowered its position in shares of Samsara Inc. (NYSE:IOT) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,582 shares of the company’s stock after selling 4,031 shares during the quarter. Raymond James & Associates’ holdings in Samsara were worth $2,771,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in shares of Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after acquiring an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after purchasing an additional 500,400 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after purchasing an additional 243,170 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Samsara Stock Performance

Shares of Samsara stock opened at $46.66 on Tuesday. The stock has a market cap of $25.96 billion, a P/E ratio of -97.21 and a beta of 1.52. The stock’s fifty day moving average is $46.72 and its 200 day moving average is $39.83. Samsara Inc. has a one year low of $23.12 and a one year high of $51.53.

Samsara (NYSE:IOT) last announced its quarterly earnings data 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. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The company had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same period in the previous year, the company posted ($0.11) EPS. The firm’s revenue was up 36.9% on a year-over-year basis. Analysts predict that Samsara Inc. will post -0.34 EPS for the current year.

Insider Activity at Samsara

In other Samsara news, insider Adam Eltoukhy sold 9,308 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total transaction of $471,357.12. Following the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at $20,093,141.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Adam Eltoukhy sold 9,308 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total transaction of $471,357.12. Following the completion of the transaction, the insider now owns 396,784 shares in the company, valued at approximately $20,093,141.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,716,268 shares of company stock worth $77,348,858. 60.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on IOT. Craig Hallum initiated coverage on shares of Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price for the company. Morgan Stanley upped their price objective on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. BNP Paribas started coverage on Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Loop Capital increased their price objective on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.20.

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.