Allspring Global Investments Holdings LLC Makes New $19.49 Million Investment in Samsara Inc. $IOT

Key Points

• Allspring Global Investments initiated a $19.49 million position in Samsara, buying 486,814 shares, or about 0.08% of the company. Other institutions also added shares, and institutional investors collectively own 96.02% of Samsara.
• Samsara reported quarterly EPS of $0.20, beating the $0.16 consensus, while revenue of $508.44 million exceeded expectations and rose 29.9% year over year.
• CEO Sanjit Biswas and insider John Bicket sold shares in November under pre-arranged Rule 10b5-1 plans; insiders sold about $110.6 million in stock over the past 90 days. Analysts’ consensus rating is Moderate Buy, with a $51.68 average target price.

Allspring Global Investments Holdings LLC bought a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 486,814 shares of the company's stock, valued at approximately $19,492,000. Allspring Global Investments Holdings LLC owned 0.08% of Samsara as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Candriam S.C.A. boosted its holdings in Samsara by 38.0% during the third quarter. Candriam S.C.A. now owns 37,834 shares of the company's stock worth $1,448,000 after purchasing an additional 10,422 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Samsara by 26.0% in the third quarter. Pictet Asset Management Holding SA now owns 2,660,574 shares of the company's stock valued at $101,448,000 after acquiring an additional 548,698 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Samsara by 98.6% in the third quarter. Parallel Advisors LLC now owns 4,723 shares of the company's stock valued at $180,000 after purchasing an additional 2,345 shares during the period. Calamos Advisors LLC purchased a new position in Samsara during the 3rd quarter valued at about $3,702,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Samsara during the third quarter worth about $223,000. Institutional investors own 96.02% of the company's stock.

Insiders Place Their Bets

In other Samsara news, insider John Bicket sold 66,895 shares of the business's stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $41.45, for a total transaction of $2,772,797.75. Following the completion of the transaction, the insider owned 89,900 shares in the company, valued at $3,726,355. The trade was a 42.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjit Biswas sold 66,560 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $41.44, for a total value of $2,758,246.40. Following the completion of the sale, the chief executive officer owned 89,900 shares in the company, valued at approximately $3,725,456. The trade was a 42.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,707,814 shares of company stock valued at $110,603,740 over the last 90 days. Insiders own 35.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IOT shares. Wall Street Zen raised shares of Samsara from a "hold" rating to a "buy" rating in a research note on Saturday, September 12th. BNP Paribas Exane increased their target price on shares of Samsara from $40.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, September 4th. Wells Fargo & Company increased their target price on shares of Samsara from $50.00 to $58.00 and gave the stock an "overweight" rating in a report on Friday, September 4th. BTIG Research lifted their price objective on Samsara from $45.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, September 4th. Finally, Royal Bank Of Canada upped their target price on Samsara from $50.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Samsara presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.68.

Key Headlines Impacting Samsara

These are some of the IOT headlines that stood out recently:

• Positive Sentiment: Samsara launched what it describes as an industry-first 360-degree camera designed for open-cab equipment. The launch could broaden its equipment-monitoring offerings and appeal to customers operating in additional work environments. Samsara launches 360-degree camera article
• Negative Sentiment: CEO Sanjit Biswas and insider John Bicket reported selling shares in transactions from Nov. 10–12, totaling roughly 470,000 shares based on the reported amounts. The sales could concern investors, though both were executed under pre-arranged Rule 10b5-1 plans, tempering the signal. John Bicket SEC filing Sanjit Biswas SEC filing

Samsara Stock Up 0.1%

Shares of IOT opened at $41.38 on Friday. The business has a fifty day moving average of $40.96 and a 200 day moving average of $34.75. The company has a market cap of $24.23 billion, a PE ratio of 258.62, a P/E/G ratio of 10.15 and a beta of 1.33. Samsara Inc. has a 52-week low of $23.38 and a 52-week high of $47.47.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings results on Thursday, September 3rd. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.04. The firm had revenue of $508.44 million during the quarter, compared to analysts' expectations of $483.29 million. Samsara had a net margin of 4.90% and a return on equity of 4.13%. The firm's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 EPS. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. As a group, research analysts anticipate that Samsara Inc. will post 0.13 earnings per share for the current fiscal year.

Samsara Company Profile

Samsara Inc. is a technology company that provides a cloud-based platform for managing connected operations. Its platform combines Internet of Things (IoT) devices, software and data analytics to help organizations monitor vehicles, equipment, worksites and other physical assets. The company's products include vehicle telematics, fleet management tools, AI-enabled dash cameras, equipment monitoring and software for routing, driver safety and operational workflows. Its customers span industries such as transportation, construction, field services, manufacturing and the public sector.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.