Bamco Inc. NY Raises Holdings in Samsara Inc. (NYSE:IOT)

Bamco Inc. NY increased its position in shares of Samsara Inc. (NYSE:IOT) by 91.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 667,125 shares of the company’s stock after purchasing an additional 317,831 shares during the period. Bamco Inc. NY’s holdings in Samsara were worth $32,102,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its holdings in Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after acquiring an additional 6,411,178 shares in the last quarter. FMR LLC lifted its position in shares of Samsara by 15.6% in the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after purchasing an additional 1,604,822 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Samsara during the second quarter valued at approximately $29,464,000. Charles Schwab Investment Management Inc. increased its holdings in Samsara by 55.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock valued at $88,013,000 after buying an additional 650,982 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Samsara by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after buying an additional 500,400 shares during the period. 89.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 12,500 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $45.00, for a total transaction of $562,500.00. Following the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at $20,968,515. This represents a 2.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sanjit Biswas sold 75,594 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the sale, the chief executive officer now owns 120,292 shares in the company, valued at $6,723,119.88. This trade represents a 38.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,623,376 shares of company stock valued at $78,007,468. Corporate insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

IOT has been the subject of several recent research reports. Evercore ISI boosted their price target on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their price target on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Truist Financial raised their price target on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a report on Monday, November 18th. Piper Sandler boosted their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.43.

Samsara Stock Performance

Shares of IOT opened at $53.63 on Tuesday. The business’s 50-day moving average is $49.91 and its two-hundred day moving average is $41.95. The company has a market capitalization of $29.84 billion, a P/E ratio of -111.73 and a beta of 1.52. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

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