Paloma Partners Management Co Lowers Holdings in Samsara Inc. (NYSE:IOT)

Paloma Partners Management Co reduced its stake in shares of Samsara Inc. (NYSE:IOT) by 72.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,242 shares of the company’s stock after selling 27,617 shares during the quarter. Paloma Partners Management Co’s holdings in Samsara were worth $493,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Private Trust Co. NA lifted 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 valued at $75,000 after purchasing an additional 250 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after acquiring an additional 304 shares during the period. UMB Bank n.a. raised its position in shares of Samsara by 69.1% in the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after acquiring an additional 418 shares during the period. Resources Management Corp CT ADV boosted its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in shares of Samsara by 6.8% during the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after acquiring an additional 497 shares during the period. 89.39% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Performance

Shares of Samsara stock opened at $54.63 on Wednesday. The business’s 50 day moving average price is $50.09 and its 200 day moving average price is $42.14. The company has a market cap of $30.39 billion, a price-to-earnings ratio of -113.81 and a beta of 1.53. Samsara Inc. has a one year low of $27.14 and a one year high of $57.51.

Samsara (NYSE:IOT) last posted its 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 for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. Samsara’s revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.11) EPS. On average, analysts predict that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of recent analyst reports. BNP Paribas started coverage on Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. Bank of America lifted their price target on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Wells Fargo & Company lifted their target price on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Piper Sandler upped their price target on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.43.

Insider Activity at Samsara

In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares in the company, valued at $15,123,445.77. This represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam Eltoukhy sold 12,500 shares of Samsara 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 sale, the insider now directly owns 465,967 shares of the company’s stock, valued at $20,968,515. The trade was a 2.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,623,376 shares of company stock worth $78,007,468. Company insiders own 60.04% of the company’s stock.

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.