Spire Wealth Management Has $468,000 Stake in Samsara Inc. (NYSE:IOT)

Spire Wealth Management reduced its holdings in Samsara Inc. (NYSE:IOT) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,207 shares of the company’s stock after selling 1,128 shares during the quarter. Spire Wealth Management’s holdings in Samsara were worth $468,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Samsara during the 4th quarter worth about $431,000. Charles Schwab Investment Management Inc. lifted its position in shares of Samsara by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock worth $82,004,000 after acquiring an additional 47,911 shares during the period. Wells Fargo & Company MN lifted its position in shares of Samsara by 101.4% in the 4th quarter. Wells Fargo & Company MN now owns 129,176 shares of the company’s stock worth $5,644,000 after acquiring an additional 65,028 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Samsara by 30.4% during the 4th quarter. Renaissance Technologies LLC now owns 764,300 shares of the company’s stock worth $33,392,000 after purchasing an additional 178,102 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Samsara by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock valued at $916,555,000 after purchasing an additional 863,197 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Samsara

In other Samsara news, insider Dominic Phillips sold 9,059 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $41.23, for a total value of $373,502.57. Following the transaction, the insider now owns 887,493 shares of the company’s stock, valued at approximately $36,591,336.39. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjit Biswas sold 54,457 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $47.33, for a total transaction of $2,577,449.81. Following the completion of the transaction, the insider now owns 90,000 shares in the company, valued at approximately $4,259,700. The trade was a 37.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,373,397 shares of company stock valued at $98,622,593. Company insiders own 46.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Piper Sandler set a $53.00 target price on shares of Samsara and gave the company an “overweight” rating in a research report on Wednesday. Evercore ISI set a $45.00 target price on Samsara in a report on Wednesday. Cowen restated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Morgan Stanley decreased their price target 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. Finally, Wells Fargo & Company increased their price objective on Samsara from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.64.

Samsara Price Performance

Shares of Samsara stock opened at $39.65 on Friday. The company’s 50 day moving average price is $42.56 and its two-hundred day moving average price is $44.01. The firm has a market capitalization of $22.57 billion, a P/E ratio of -180.23 and a beta of 1.74. Samsara Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $61.90.

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 the consensus estimate 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 business had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same period last year, the company earned $0.03 EPS. Samsara’s revenue for the quarter was up 30.7% compared to the same quarter last year. On average, analysts expect that Samsara Inc. will post -0.3 earnings per share for the current year.

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.