Avantax Advisory Services Inc. Acquires Shares of 9,314 Samsara Inc. (NYSE:IOT)

Key Points

• Avantax Advisory Services Inc. acquired 9,314 shares of Samsara Inc., valued at approximately $357,000, during the first quarter.
• The stock has seen significant institutional investment, with institutional investors owning 96.02% of Samsara's shares and several funds boosting their stakes in recent months.
• Recent analyst ratings show mixed reviews, with Evercore ISI setting a price target of $45 while Wall Street Zen downgraded their rating from "buy" to "hold."

Avantax Advisory Services Inc. bought a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,314 shares of the company's stock, valued at approximately $357,000.

Several other institutional investors and hedge funds have also recently modified their holdings of IOT. NewEdge Advisors LLC grew its holdings in Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after acquiring an additional 414 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Samsara in the 1st quarter valued at about $31,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Samsara in the 4th quarter worth approximately $38,000. CWM LLC boosted its stake in shares of Samsara by 385.3% during the first quarter. CWM LLC now owns 1,053 shares of the company's stock valued at $40,000 after purchasing an additional 836 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in Samsara during the fourth quarter valued at approximately $45,000. Institutional investors own 96.02% of the company's stock.

Wall Street Analyst Weigh In

IOT has been the subject of a number of recent research reports. Evercore ISI set a $45.00 price objective on shares of Samsara in a research note on Wednesday, June 25th. Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley decreased their price objective 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. Wells Fargo & Company lifted their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $47.00 target price (down from $53.00) on shares of Samsara in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Samsara has an average rating of "Hold" and an average price target of $50.21.

Insider Transactions at Samsara

In related news, insider Sanjit Biswas sold 27,602 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $36.20, for a total value of $999,192.40. Following the transaction, the insider directly owned 851,902 shares of the company's stock, valued at $30,838,852.40. This represents a 3.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 10,083 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $38.77, for a total value of $390,917.91. Following the completion of the transaction, the insider owned 358,720 shares of the company's stock, valued at $13,907,574.40. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,926,739 shares of company stock worth $119,969,024. Company insiders own 46.49% of the company's stock.

Samsara Stock Performance

Shares of IOT stock opened at $34.64 on Friday. Samsara Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $61.90. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of -157.43 and a beta of 1.62. The stock's 50-day simple moving average is $39.71 and its 200-day simple moving average is $42.66.

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

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