PNC Financial Services Group Inc. Has $386,000 Stock Holdings in Samsara Inc. (NYSE:IOT)

PNC Financial Services Group Inc. lessened its holdings in Samsara Inc. (NYSE:IOT) by 31.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,072 shares of the company’s stock after selling 4,712 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Samsara were worth $386,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Samsara in the 1st quarter valued at $1,457,000. Wells Fargo & Company MN lifted its stake 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 valued at $5,644,000 after acquiring an additional 65,028 shares during the last quarter. Avantax Advisory Services Inc. bought a new position in shares of Samsara in the 1st quarter valued at $357,000. Park Avenue Securities LLC bought a new position in shares of Samsara in the 1st quarter valued at $273,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Samsara by 99.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,909,336 shares of the company’s stock valued at $74,082,000 after acquiring an additional 952,791 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Trading Down 2.3%

IOT opened at $32.25 on Friday. The company has a market cap of $18.36 billion, a P/E ratio of -146.57 and a beta of 1.62. The business’s 50-day moving average price is $38.33 and its 200-day moving average price is $42.14. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90.

Samsara (NYSE:IOT) last posted 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. The company had revenue of $366.88 million for 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%. Samsara’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share. Equities research analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Samsara

In other news, insider Sanjit Biswas sold 160,000 shares of Samsara stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the completion of the transaction, the insider directly owned 78,000 shares in the company, valued at approximately $3,087,240. This trade represents a 67.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Bicket sold 170,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $39.42, for a total transaction of $6,701,400.00. Following the completion of the transaction, the insider owned 367,642 shares of the company’s stock, valued at approximately $14,492,447.64. The trade was a 31.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,926,739 shares of company stock valued at $119,969,024 over the last ninety days. Company insiders own 46.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price target on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Wall Street Zen downgraded Samsara from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Piper Sandler reaffirmed an “overweight” rating and set a $47.00 target price (down from $53.00) on shares of Samsara in a report on Thursday, August 7th. Evercore ISI set a $45.00 target price on Samsara in a report on Wednesday, June 25th. Finally, BMO Capital Markets lifted their target price on Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a report on Monday, June 2nd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.21.

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.