AGF Management Ltd. Boosts Position in Samsara Inc. (NYSE:IOT)

Key Points

• AGF Management Ltd. increased its stake in Samsara Inc. by 10.4%, acquiring an additional 37,747 shares, bringing its total holdings to 399,174 shares valued at approximately $15.3 million.
• Notably, the majority of Samsara's stock, 96.02%, is owned by institutional investors, indicating strong support among larger financial entities.
• Meanwhile, insiders have sold a total of 2,926,739 shares in the past three months, which amounts to $119.97 million, reflecting a notable shift in their positions.

AGF Management Ltd. raised its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 399,174 shares of the company's stock after purchasing an additional 37,747 shares during the period. AGF Management Ltd. owned 0.07% of Samsara worth $15,300,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Zevenbergen Capital Investments LLC increased its stake in shares of Samsara by 42.0% in the first quarter. Zevenbergen Capital Investments LLC now owns 587,809 shares of the company's stock worth $22,531,000 after purchasing an additional 173,984 shares in the last quarter. Invesco Ltd. increased its stake in shares of Samsara by 20.1% in the first quarter. Invesco Ltd. now owns 4,174,153 shares of the company's stock worth $159,995,000 after purchasing an additional 697,208 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Samsara by 31.0% in the first quarter. Benjamin Edwards Inc. now owns 8,266 shares of the company's stock worth $317,000 after purchasing an additional 1,956 shares in the last quarter. National Bank of Canada FI grew its stake in Samsara by 184.1% during the first quarter. National Bank of Canada FI now owns 2,929 shares of the company's stock valued at $114,000 after acquiring an additional 1,898 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Samsara by 96.9% during the first quarter. Citigroup Inc. now owns 223,144 shares of the company's stock valued at $8,553,000 after acquiring an additional 109,807 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Samsara Stock Up 4.0%

Samsara stock traded up $1.29 during mid-day trading on Friday, reaching $33.51. 3,775,054 shares of the company's stock traded hands, compared to its average volume of 4,670,207. The company has a market cap of $19.08 billion, a price-to-earnings ratio of -152.32 and a beta of 1.62. The stock has a 50 day moving average of $38.09 and a two-hundred day moving average of $42.01. Samsara Inc. has a 12-month low of $31.40 and a 12-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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. The company had revenue of $366.88 million for the quarter, compared to the consensus estimate of $351.44 million. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. Samsara's revenue was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.03 earnings per share. As a group, sell-side analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other Samsara news, Director Marc L. Andreessen sold 399,026 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total transaction of $16,491,744.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total transaction of $16,491,744.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,926,739 shares of company stock worth $119,969,024. 46.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

IOT has been the subject of several research analyst reports. BMO Capital Markets lifted their target price 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. Piper Sandler reiterated an "overweight" rating and set a $47.00 target price (down from $53.00) on shares of Samsara in a research report on Thursday, August 7th. Wells Fargo & Company boosted their price objective on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Evercore ISI set a $45.00 price objective on shares of Samsara in a report on Wednesday, June 25th. Finally, Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $50.21.

About Samsara

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.