PDT Partners LLC Lowers Stock Position in Samsara Inc. (NYSE:IOT)

PDT Partners LLC reduced its position in shares of Samsara Inc. (NYSE:IOT) by 43.1% during the third quarter, Holdings Channel reports. The firm owned 108,259 shares of the company’s stock after selling 82,122 shares during the period. Samsara makes up 0.5% of PDT Partners LLC’s holdings, making the stock its 22nd largest holding. PDT Partners LLC’s holdings in Samsara were worth $5,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA boosted its stake in shares of Samsara by 19.2% in the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after buying an additional 250 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after purchasing an additional 280 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Samsara by 3.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after purchasing an additional 304 shares during the period. UMB Bank n.a. raised its stake in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the period. Finally, Resources Management Corp CT ADV boosted its holdings in shares of Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the last quarter. 89.39% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Sanjit Biswas sold 93,107 shares of Samsara stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total transaction of $3,716,831.44. Following the completion of the sale, the chief executive officer now directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. The trade was a 54.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam Eltoukhy sold 12,500 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $45.00, for a total value of $562,500.00. Following the completion of the transaction, the insider now directly owns 465,967 shares in the company, valued at approximately $20,968,515. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,809,695 shares of company stock worth $85,445,322. 60.04% of the stock is currently owned by insiders.

Samsara Trading Down 0.5 %

Shares of NYSE:IOT opened at $53.49 on Friday. The company has a 50 day moving average of $49.91 and a 200 day moving average of $41.94. The stock has a market cap of $29.76 billion, a P/E ratio of -111.44 and a beta of 1.52. Samsara Inc. has a 12 month low of $26.86 and a 12 month high of $57.51.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. On average, equities analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

IOT has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. BNP Paribas initiated coverage on Samsara in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price objective on the stock. Morgan Stanley raised their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company upped their price target on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Evercore ISI lifted their price objective on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Nine equities research 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 currently has an average rating of “Hold” and an average target price of $45.67.

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.