Samsara Inc. (NYSE:IOT) Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC decreased its holdings in Samsara Inc. (NYSE:IOT) by 20.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,455 shares of the company’s stock after selling 374 shares during the quarter. Parallel Advisors LLC’s holdings in Samsara were worth $56,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new position in Samsara during the 4th quarter worth approximately $13,464,000. abrdn plc grew its position in Samsara by 11.6% during the 4th quarter. abrdn plc now owns 4,792 shares of the company’s stock worth $210,000 after purchasing an additional 498 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Samsara by 22.1% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 459,416 shares of the company’s stock worth $20,072,000 after purchasing an additional 83,133 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Samsara by 37.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,753 shares of the company’s stock worth $863,000 after purchasing an additional 5,410 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Samsara during the 4th quarter worth approximately $1,521,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Trading Down 4.3%

Shares of IOT stock opened at $45.21 on Monday. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The firm’s 50 day moving average is $41.58 and its 200-day moving average is $45.30. The firm has a market capitalization of $25.74 billion, a price-to-earnings ratio of -96.19 and a beta of 1.74.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The company had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same period in the prior year, the business earned $0.03 earnings per share. Samsara’s quarterly revenue was up 30.7% on a year-over-year basis. On average, equities research analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Samsara

In other news, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.72, for a total transaction of $871,200.00. Following the completion of the sale, the director now owns 373,579 shares of the company’s stock, valued at $14,464,978.88. This represents a 5.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $34.89, for a total transaction of $5,582,400.00. Following the sale, the insider now directly owns 108,000 shares of the company’s stock, valued at $3,768,120. This represents a 59.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,298,821 shares of company stock worth $54,837,246. Corporate insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wall Street Zen cut shares of Samsara from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Raymond James assumed coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. BMO Capital Markets lifted their target price on shares of Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, June 2nd. Wells Fargo & Company boosted their price objective on shares of Samsara from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Cowen restated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

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.