Samsara Inc. (NYSE:IOT) Stake Reduced by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its holdings in shares of Samsara Inc. (NYSE:IOT) by 9.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 12,097 shares of the company’s stock after selling 1,251 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Samsara were worth $464,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in Samsara during the 1st quarter worth $1,457,000. Wells Fargo & Company MN boosted its position in Samsara by 101.4% during 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. Avantax Advisory Services Inc. acquired a new position in Samsara during the 1st quarter worth $357,000. Park Avenue Securities LLC acquired a new stake in shares of Samsara in the first quarter valued at $273,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Samsara by 99.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,909,336 shares of the company’s stock valued at $74,082,000 after buying an additional 952,791 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IOT shares. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective (down previously from $53.00) on shares of Samsara in a report on Thursday, August 7th. Wells Fargo & Company upped their price objective on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 6th. BMO Capital Markets upped their price objective on Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. Wall Street Zen lowered Samsara from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Evercore ISI set a $45.00 price objective on Samsara in a report on Wednesday, June 25th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.21.

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 160,000 shares of the company’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the transaction, the insider directly owned 78,000 shares of the company’s stock, valued at approximately $3,087,240. The trade was a 67.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc L. Andreessen sold 399,026 shares of the company’s 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. Insiders sold a total of 2,926,739 shares of company stock valued at $119,969,024 over the last ninety days. Corporate insiders own 46.49% of the company’s stock.

Samsara Stock Down 2.3%

Shares of NYSE IOT opened at $32.25 on Friday. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90. The company has a market cap of $18.36 billion, a price-to-earnings ratio of -146.57 and a beta of 1.62. The business has a fifty day simple moving average of $38.33 and a 200-day simple moving average of $42.14.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, beating 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 the consensus estimate of $351.44 million. During the same period in the prior year, the business posted $0.03 earnings per share. Samsara’s revenue was up 30.7% compared to the same quarter last year. As a group, sell-side analysts expect that Samsara Inc. will post -0.3 EPS for the current fiscal year.

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.