Park Avenue Securities LLC Acquires New Shares in Samsara Inc. (NYSE:IOT)

Park Avenue Securities LLC bought a new stake in shares of Samsara Inc. (NYSE:IOT) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,115 shares of the company’s stock, valued at approximately $273,000.

A number of other large investors have also recently bought and sold shares of IOT. Brighton Jones LLC acquired a new stake in Samsara during the 4th quarter valued at $13,464,000. Blue Trust Inc. boosted its holdings in Samsara by 10,923.1% in the fourth quarter. Blue Trust Inc. now owns 7,165 shares of the company’s stock valued at $313,000 after acquiring an additional 7,100 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in Samsara by 3.9% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 81,334 shares of the company’s stock valued at $3,553,000 after acquiring an additional 3,047 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Samsara by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock valued at $253,000 after acquiring an additional 300 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its holdings in Samsara by 15.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,348 shares of the company’s stock valued at $583,000 after acquiring an additional 1,818 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Price Performance

IOT opened at $39.14 on Monday. The company has a market capitalization of $22.28 billion, a price-to-earnings ratio of -83.28 and a beta of 1.74. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90. The business has a 50 day moving average price of $42.29 and a two-hundred day moving average price of $44.84.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Samsara had a negative return on equity of 19.44% and a negative net margin of 21.80%. The company had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. Equities analysts expect that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In other Samsara news, insider Adam Eltoukhy sold 10,451 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $41.23, for a total transaction of $430,894.73. Following the transaction, the insider now directly owns 395,646 shares of the company’s stock, valued at $16,312,484.58. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dominic Phillips sold 9,059 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $41.23, for a total transaction of $373,502.57. Following the transaction, the insider now directly owns 887,493 shares in the company, valued at $36,591,336.39. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,060,283 shares of company stock worth $86,586,131. Insiders own 46.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley reduced their price objective on Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada dropped their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Piper Sandler reissued an “overweight” rating and issued a $53.00 price objective (up from $44.00) on shares of Samsara in a report on Wednesday, May 14th. Wall Street Zen lowered Samsara from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Finally, Raymond James started coverage on Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Samsara presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Samsara 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.