12,646 Shares in Samsara Inc. (NYSE:IOT) Purchased by Krane Funds Advisors LLC

Krane Funds Advisors LLC purchased a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,646 shares of the company's stock, valued at approximately $485,000.

Several other institutional investors have also bought and sold shares of IOT. NewEdge Advisors LLC raised its position in Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 414 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Samsara during the fourth quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Samsara in the first quarter worth approximately $31,000. IFP Advisors Inc raised its holdings in shares of Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after buying an additional 598 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Samsara during the 4th quarter worth approximately $38,000. Institutional investors own 96.02% of the company's stock.

Insider Activity

In other news, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction that occurred 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 owned 78,000 shares in the company, valued at $3,087,240. This trade represents a 67.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adam Eltoukhy sold 10,083 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $39.89, for a total transaction of $402,210.87. Following the completion of the sale, the insider directly owned 358,720 shares of the company's stock, valued at approximately $14,309,340.80. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,362,323 shares of company stock worth $98,213,010. 46.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on IOT. Truist Financial cut their price objective on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. Cowen restated a "buy" rating on shares of Samsara in a report on Friday, March 7th. Piper Sandler set a $53.00 price objective on shares of Samsara and gave the company an "overweight" rating in a report on Wednesday, June 25th. BMO Capital Markets boosted their price objective on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Samsara has an average rating of "Hold" and a consensus price target of $50.64.

Samsara Stock Up 2.1%

Shares of NYSE IOT traded up $0.81 during midday trading on Thursday, reaching $39.19. 4,249,709 shares of the stock were exchanged, compared to its average volume of 3,991,295. The firm has a market cap of $22.31 billion, a price-to-earnings ratio of -178.11 and a beta of 1.63. The firm has a 50-day simple moving average of $42.74 and a two-hundred day simple moving average of $43.82. Samsara Inc. has a twelve month low of $31.40 and a twelve month high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly 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 net margin of 9.04% and a negative return on equity of 11.14%. The company had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same quarter last year, the business earned $0.03 earnings per share. The firm's revenue was up 30.7% on a year-over-year basis. Research 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.