Samsara Inc. (NYSE:IOT) Shares Acquired by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. increased its stake in Samsara Inc. by 7.1%, now holding approximately $1.35 billion worth of shares, making it the firm's 21st largest position.
• Several institutional investors have recently adjusted their positions, with 96.02% of Samsara's stock now owned by institutional investors and hedge funds.
• Analysts have set a consensus price target of $50.64 for Samsara, with mixed ratings from various firms ranging from "buy" to "hold."

Baillie Gifford & Co. lifted its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,277,488 shares of the company's stock after purchasing an additional 2,348,101 shares during the period. Samsara accounts for about 1.2% of Baillie Gifford & Co.'s portfolio, making the stock its 21st largest holding. Baillie Gifford & Co. owned approximately 6.20% of Samsara worth $1,352,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in IOT. Tidal Investments LLC grew its position in Samsara by 4.6% in the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after acquiring an additional 281 shares during the period. Continuum Advisory LLC grew its position in Samsara by 32.1% in the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock worth $51,000 after acquiring an additional 282 shares during the period. Cim LLC grew its position in Samsara by 1.3% in the fourth quarter. Cim LLC now owns 31,164 shares of the company's stock worth $1,362,000 after acquiring an additional 386 shares during the period. NewEdge Advisors LLC grew its position in Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after acquiring an additional 414 shares during the period. Finally, Wellington Management Group LLP raised its position in Samsara by 7.3% in the fourth quarter. Wellington Management Group LLP now owns 8,538 shares of the company's stock valued at $373,000 after purchasing an additional 579 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Samsara

In other Samsara news, Director Marc L. Andreessen sold 399,026 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total value of $16,491,744.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the 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 2,712,406 shares of company stock worth $112,812,044. Insiders own 46.49% of the company's stock.

Analysts Set New Price Targets

IOT has been the topic of a number of research analyst reports. Piper Sandler set a $53.00 target price on Samsara and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Evercore ISI set a $45.00 target price on Samsara in a research report on Wednesday, June 25th. Wells Fargo & Company boosted their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, BMO Capital Markets upped their price objective on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $50.64.

Samsara Trading Down 1.6%

NYSE:IOT traded down $0.62 during trading hours on Tuesday, hitting $39.04. The company's stock had a trading volume of 1,308,101 shares, compared to its average volume of 4,656,697. The stock has a market capitalization of $22.23 billion, a P/E ratio of -177.45 and a beta of 1.63. The stock has a fifty day moving average of $41.16 and a 200-day moving average of $43.09. Samsara Inc. has a 52-week low of $31.40 and a 52-week high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $351.44 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Samsara's revenue for the quarter was up 30.7% on a year-over-year basis. On average, sell-side analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current year.

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.