Quadrature Capital Ltd Decreases Position in Samsara Inc. (NYSE:IOT)

Quadrature Capital Ltd decreased its position in shares of Samsara Inc. (NYSE:IOT) by 62.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,124 shares of the company’s stock after selling 49,441 shares during the quarter. Quadrature Capital Ltd’s holdings in Samsara were worth $1,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IOT. Toronto Dominion Bank bought a new position in Samsara during the first quarter valued at approximately $620,000. Advisors Asset Management Inc. increased its stake in shares of Samsara by 9.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after purchasing an additional 280 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Samsara during the 1st quarter valued at approximately $94,000. Acadian Asset Management LLC bought a new position in shares of Samsara in the first quarter worth approximately $924,000. Finally, Vanguard Group Inc. increased its stake in Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after buying an additional 1,841,149 shares in the last quarter. Institutional investors own 89.39% of the company’s stock.

Samsara Price Performance

Shares of NYSE:IOT traded up $0.39 on Friday, hitting $37.51. 1,676,425 shares of the company’s stock were exchanged, compared to its average volume of 2,995,283. The business’s 50 day simple moving average is $34.60 and its two-hundred day simple moving average is $34.70. The stock has a market capitalization of $20.66 billion, a price-to-earnings ratio of -75.02 and a beta of 1.49. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $42.28.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, June 6th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $280.73 million during the quarter, compared to analysts’ expectations of $272.51 million. Samsara had a negative net margin of 27.14% and a negative return on equity of 21.66%. Equities analysts forecast that Samsara Inc. will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Samsara news, insider John Bicket sold 91,713 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $35.61, for a total value of $3,265,899.93. Following the completion of the sale, the insider now directly owns 2,232,749 shares in the company, valued at approximately $79,508,191.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Marc L. Andreessen sold 277,484 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $28.88, for a total value of $8,013,737.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Bicket sold 91,713 shares of Samsara stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $35.61, for a total transaction of $3,265,899.93. Following the completion of the transaction, the insider now directly owns 2,232,749 shares in the company, valued at $79,508,191.89. The disclosure for this sale can be found here. Insiders have sold 1,757,240 shares of company stock worth $61,407,550 in the last ninety days. 60.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IOT shares. Piper Sandler reaffirmed a “neutral” rating and set a $36.00 price objective on shares of Samsara in a report on Friday, June 28th. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price objective on shares of Samsara in a report on Wednesday, June 26th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Saturday, May 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $40.00 price objective on shares of Samsara in a research note on Tuesday, June 11th. Finally, Loop Capital reissued a “buy” rating and issued a $42.00 target price on shares of Samsara in a report on Friday, June 28th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.17.

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.