Ritholtz Wealth Management Reduces Position in Samsara Inc. (NYSE:IOT)

Ritholtz Wealth Management decreased its stake in shares of Samsara Inc. (NYSE:IOT) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,741 shares of the company’s stock after selling 461 shares during the period. Ritholtz Wealth Management’s holdings in Samsara were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IOT. Brighton Jones LLC purchased a new position in Samsara during the fourth quarter worth $13,464,000. State of New Jersey Common Pension Fund D increased its position in Samsara by 3.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 81,334 shares of the company’s stock worth $3,553,000 after buying an additional 3,047 shares in the last quarter. CIBC Asset Management Inc increased its position in Samsara by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after buying an additional 300 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in Samsara by 15.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 13,348 shares of the company’s stock worth $583,000 after buying an additional 1,818 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in Samsara during the fourth quarter worth $3,460,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Transactions at Samsara

In other Samsara news, insider Adam Eltoukhy sold 10,451 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 $430,894.73. Following the completion of the transaction, the insider now directly owns 395,646 shares of the company’s stock, valued at approximately $16,312,484.58. This trade represents a 2.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Marc L. Andreessen sold 399,026 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total value of $16,491,744.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,137,417 shares of company stock worth $89,601,167. Company insiders own 46.49% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley dropped their price target on Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Craig Hallum restated a “hold” rating on shares of Samsara in a report on Friday, March 7th. Royal Bank Of Canada reduced their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Piper Sandler reiterated an “overweight” rating and issued a $53.00 target price (up previously from $44.00) on shares of Samsara in a report on Wednesday, May 14th. Finally, BMO Capital Markets boosted their price objective on Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, June 2nd. Nine research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Samsara Stock Up 1.2%

Shares of Samsara stock opened at $38.68 on Friday. The firm has a market cap of $22.02 billion, a P/E ratio of -175.80 and a beta of 1.74. Samsara Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $61.90. The business has a 50-day moving average price of $42.38 and a 200 day moving average price of $44.55.

Samsara (NYSE:IOT) last issued its earnings results 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 11.14% and a negative net margin of 9.04%. The company had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. During the same period in the previous year, the firm posted $0.03 earnings per share. Samsara’s quarterly revenue was up 30.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Samsara Inc. will post -0.3 earnings per share for the current year.

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.