Eventide Asset Management LLC Buys New Stake in Samsara Inc. $IOT

Key Points

• Eventide Asset Management LLC acquired 25,395 shares of Samsara Inc., valued at approximately $973,000, during the first quarter.
• Samsara's quarterly earnings showed a positive earnings per share (EPS) of $0.12, exceeding analyst expectations, with a revenue increase of 30.4% year-over-year.
• Insider selling was notable, with significant reductions in holdings by insiders, amounting to 2.9 million shares sold, valuing over $111 million in total.

Eventide Asset Management LLC bought a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,395 shares of the company's stock, valued at approximately $973,000.

A number of other large investors have also recently made changes to their positions in the company. Jennison Associates LLC increased its position in Samsara by 1,881.8% during the first quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock worth $450,881,000 after buying an additional 11,169,571 shares during the period. Vanguard Group Inc. grew its position in shares of Samsara by 12.0% during the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company's stock worth $900,581,000 after acquiring an additional 2,516,882 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Samsara by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company's stock valued at $1,352,186,000 after acquiring an additional 2,348,101 shares during the period. Bessemer Group Inc. raised its position in Samsara by 2,635,339.0% in the 1st quarter. Bessemer Group Inc. now owns 1,080,530 shares of the company's stock valued at $41,418,000 after purchasing an additional 1,080,489 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Samsara by 99.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,909,336 shares of the company's stock valued at $74,082,000 after purchasing an additional 952,791 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Samsara news, insider Adam Eltoukhy sold 4,578 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $32.73, for a total value of $149,837.94. Following the sale, the insider owned 358,720 shares of the company's stock, valued at approximately $11,740,905.60. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Bicket sold 40,320 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $35.61, for a total value of $1,435,795.20. Following the completion of the transaction, the insider owned 984,347 shares of the company's stock, valued at approximately $35,052,596.67. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,093,221 shares of company stock worth $77,400,931. 46.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IOT has been the subject of a number of research reports. Craig Hallum raised shares of Samsara from a "hold" rating to a "buy" rating and upped their target price for the company from $42.00 to $48.00 in a report on Friday. Piper Sandler boosted their price target on Samsara from $47.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday. Morgan Stanley increased their price objective on Samsara from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research report on Monday. BMO Capital Markets dropped their target price on Samsara from $54.00 to $47.00 and set an "outperform" rating on the stock in a report on Friday. Finally, Evercore ISI set a $45.00 price target on Samsara in a research note on Wednesday, June 25th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Samsara currently has an average rating of "Moderate Buy" and an average price target of $49.38.

Samsara Stock Down 6.9%

Shares of NYSE IOT traded down $2.85 during midday trading on Tuesday, hitting $38.68. The company had a trading volume of 16,267,909 shares, compared to its average volume of 4,934,700. The firm has a market capitalization of $22.02 billion, a price-to-earnings ratio of -241.75 and a beta of 1.61. Samsara Inc. has a twelve month low of $31.40 and a twelve month high of $61.90. The business has a 50-day simple moving average of $36.70 and a two-hundred day simple moving average of $39.68.

Samsara (NYSE:IOT - Get Free Report) last issued its earnings results on Thursday, September 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. Samsara had a negative net margin of 6.16% and a negative return on equity of 7.80%. The company had revenue of $391.48 million during the quarter, compared to analysts' expectations of $372.22 million. During the same period last year, the company posted $0.05 earnings per share. The firm's quarterly revenue was up 30.4% compared to the same quarter last year. Samsara has set its FY 2026 guidance at 0.450-0.470 EPS. Q3 2026 guidance at 0.110-0.12 EPS. On average, equities analysts forecast that Samsara Inc. will post -0.3 EPS for the current year.

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.