Samsara Inc. (NYSE:IOT) Shares Sold by LPL Financial LLC

LPL Financial LLC lessened its holdings in Samsara Inc. (NYSE:IOT) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 124,448 shares of the company’s stock after selling 2,736 shares during the quarter. LPL Financial LLC’s holdings in Samsara were worth $4,770,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new position in shares of Samsara in the fourth quarter worth about $13,464,000. Wells Fargo & Company MN raised its stake in shares of Samsara by 101.4% in the fourth quarter. Wells Fargo & Company MN now owns 129,176 shares of the company’s stock worth $5,644,000 after purchasing an additional 65,028 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Samsara by 44.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 48,549 shares of the company’s stock worth $2,121,000 after purchasing an additional 15,039 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Samsara by 49.4% in the fourth quarter. Russell Investments Group Ltd. now owns 53,443 shares of the company’s stock worth $2,337,000 after purchasing an additional 17,666 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Samsara by 73.8% in the fourth quarter. Cerity Partners LLC now owns 59,642 shares of the company’s stock worth $2,606,000 after purchasing an additional 25,328 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Price Performance

Samsara stock opened at $32.95 on Thursday. The stock has a market capitalization of $18.76 billion, a PE ratio of -149.77 and a beta of 1.62. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90. The business has a 50 day simple moving average of $38.63 and a 200-day simple moving average of $42.25.

Samsara (NYSE:IOT) last posted 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. The business had revenue of $366.88 million during the quarter, compared to analysts’ expectations of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The business’s revenue was up 30.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 earnings per share. On average, equities research analysts anticipate that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IOT shares. Evercore ISI set a $45.00 price objective on Samsara in a research note on Wednesday, June 25th. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective (down from $53.00) on shares of Samsara in a research note on Thursday, August 7th. BMO Capital Markets raised 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. Wall Street Zen cut Samsara from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company lifted their price target on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, June 6th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $50.21.

Insider Transactions at Samsara

In other news, insider John Bicket sold 37,632 shares of Samsara stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $36.15, for a total value of $1,360,396.80. Following the sale, the insider directly owned 1,258,347 shares of the company’s stock, valued at $45,489,244.05. The trade was a 2.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam Eltoukhy sold 10,083 shares of Samsara stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $38.77, for a total value of $390,917.91. Following the completion of the sale, the insider directly owned 358,720 shares in the company, valued at $13,907,574.40. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,926,739 shares of company stock valued at $119,969,024 over the last ninety days. Insiders own 46.49% of the company’s stock.

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.