Asahi Life Asset Management CO. LTD. Takes Position in Samsara Inc. (NYSE:IOT)

Asahi Life Asset Management CO. LTD. bought a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,180 shares of the company's stock, valued at approximately $275,000.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Samsara by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock worth $916,555,000 after purchasing an additional 863,197 shares in the last quarter. FMR LLC raised its stake in Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after acquiring an additional 2,852,575 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Samsara by 107.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after acquiring an additional 2,148,081 shares during the last quarter. Invesco Ltd. raised its stake in Samsara by 13.7% in the 4th quarter. Invesco Ltd. now owns 3,476,945 shares of the company's stock worth $151,908,000 after acquiring an additional 419,163 shares during the last quarter. Finally, Norges Bank purchased a new position in Samsara in the 4th quarter worth $106,274,000. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Stock Performance

Shares of Samsara stock traded up $0.62 on Friday, hitting $38.77. The company's stock had a trading volume of 1,786,912 shares, compared to its average volume of 4,023,604. Samsara Inc. has a 1 year low of $31.40 and a 1 year high of $61.90. The firm has a fifty day moving average price of $42.25 and a 200-day moving average price of $43.37. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of -175.91 and a beta of 1.63.

Samsara (NYSE:IOT - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The firm had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same quarter in the previous year, the business earned $0.03 EPS. Samsara's revenue for the quarter was up 30.7% compared to the same quarter last year. As a group, analysts forecast that Samsara Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, insider Sanjit Biswas sold 45,736 shares of Samsara stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $39.18, for a total value of $1,791,936.48. Following the sale, the insider directly owned 1,105,902 shares in the company, valued at approximately $43,329,240.36. The trade was a 3.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Bicket sold 56,113 shares of Samsara stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $39.22, for a total value of $2,200,751.86. Following the completion of the sale, the insider owned 1,532,347 shares in the company, valued at approximately $60,098,649.34. The trade was a 3.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,532,323 shares of company stock worth $105,452,742 in the last quarter. 46.49% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IOT shares. Piper Sandler set a $53.00 target price on Samsara and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Wells Fargo & Company raised their target price on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. BMO Capital Markets raised their target price on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Morgan Stanley reduced their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Samsara presently has an average rating of "Hold" and an average price target of $50.64.

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.