Samsara Inc. (NYSE:IOT) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 99.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 about 0.34% of Samsara worth $74,082,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IOT. Brighton Jones LLC acquired a new stake in shares of Samsara during the fourth quarter worth about $13,464,000. IFP Advisors Inc grew its position in shares of Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after acquiring an additional 598 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Samsara by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 750,408 shares of the company's stock worth $32,785,000 after purchasing an additional 23,990 shares during the period. SVB Wealth LLC purchased a new stake in shares of Samsara in the fourth quarter valued at about $1,657,000. Finally, US Bancorp DE boosted its stake in shares of Samsara by 71.3% during the fourth quarter. US Bancorp DE now owns 5,283 shares of the company's stock worth $231,000 after buying an additional 2,199 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IOT shares. Royal Bank Of Canada dropped their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company increased their price target on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Morgan Stanley dropped their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. BMO Capital Markets raised their target price on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Finally, Piper Sandler set a $53.00 price target on shares of Samsara and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $50.64.

Insiders Place Their Bets

In other news, insider John Bicket sold 170,000 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $39.42, for a total transaction of $6,701,400.00. Following the completion of the sale, the insider directly owned 367,642 shares in the company, valued at $14,492,447.64. This represents a 31.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Jonathan Chadwick sold 22,500 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $39.07, for a total value of $879,075.00. Following the sale, the director directly owned 37,494 shares of the company's stock, valued at approximately $1,464,890.58. This trade represents a 37.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,362,323 shares of company stock valued at $98,213,010. 46.49% of the stock is currently owned by corporate insiders.

Samsara Price Performance

NYSE:IOT traded down $0.78 on Wednesday, reaching $38.38. The stock had a trading volume of 6,649,916 shares, compared to its average volume of 3,980,126. Samsara Inc. has a 12-month low of $31.40 and a 12-month high of $61.90. The company has a market cap of $21.85 billion, a price-to-earnings ratio of -174.45 and a beta of 1.63. The firm's fifty day moving average is $42.72 and its two-hundred day moving average is $43.91.

Samsara (NYSE:IOT - Get Free Report) last issued 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. The company had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. Samsara's revenue was up 30.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 EPS. As a group, research analysts forecast that Samsara Inc. will post -0.3 earnings per share 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.