Allspring Global Investments Holdings LLC Boosts Stake in Samsara Inc. (NYSE:IOT)

Allspring Global Investments Holdings LLC lifted its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 99.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,909,336 shares of the company's stock after acquiring an additional 952,791 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.34% of Samsara worth $74,082,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in Samsara in the 4th quarter valued at about $431,000. Charles Schwab Investment Management Inc. lifted its stake in Samsara by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company's stock valued at $82,004,000 after buying an additional 47,911 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Samsara by 101.4% in the 4th quarter. Wells Fargo & Company MN now owns 129,176 shares of the company's stock valued at $5,644,000 after buying an additional 65,028 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Samsara by 30.4% in the 4th quarter. Renaissance Technologies LLC now owns 764,300 shares of the company's stock valued at $33,392,000 after buying an additional 178,102 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Samsara by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock valued at $916,555,000 after buying an additional 863,197 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Samsara Price Performance

Shares of NYSE IOT opened at $39.65 on Friday. The company has a 50 day simple moving average of $42.56 and a 200-day simple moving average of $44.01. The company has a market capitalization of $22.57 billion, a P/E ratio of -180.23 and a beta of 1.74. Samsara Inc. has a 1 year low of $31.40 and a 1 year high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. The business had revenue of $366.88 million during 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%. The business's revenue was up 30.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 EPS. As a group, research analysts expect that Samsara Inc. will post -0.3 EPS for the current year.

Insider Activity at Samsara

In related news, insider John Bicket sold 170,000 shares of Samsara stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $39.42, for a total value of $6,701,400.00. Following the completion of the sale, the insider now owns 367,642 shares in the company, valued at approximately $14,492,447.64. This trade represents a 31.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc L. Andreessen sold 399,026 shares of Samsara stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders sold 2,373,397 shares of company stock worth $98,622,593. Insiders own 46.49% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IOT. BMO Capital Markets raised their price target on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Wells Fargo & Company raised their price target on shares of Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Evercore ISI set a $45.00 target price on shares of Samsara in a research note on Wednesday. Cowen reissued a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Finally, Piper Sandler set a $53.00 target price on shares of Samsara and gave the stock an "overweight" rating in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.

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