Banque Cantonale Vaudoise Purchases New Holdings in Samsara Inc. (NYSE:IOT)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in Samsara Inc., purchasing nearly 10,000 shares valued at approximately $377,000 during the 1st quarter of 2023.
• Samsara reported a 30.7% increase in revenue compared to the same quarter last year, with earnings of $0.11 per share, surpassing expectations of $0.06.
• Insider trading activity has been significant, with two executives selling over 330,000 shares in total recently, reflecting notable decreases in their holdings.

Banque Cantonale Vaudoise purchased a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,834 shares of the company's stock, valued at approximately $377,000.

Several other large investors have also recently bought and sold shares of IOT. Nemes Rush Group LLC raised its position in Samsara by 7.8% during the first quarter. Nemes Rush Group LLC now owns 3,597 shares of the company's stock worth $138,000 after acquiring an additional 260 shares in the last quarter. Tidal Investments LLC raised its position in Samsara by 4.6% during 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 in the last quarter. Continuum Advisory LLC increased its holdings in shares of Samsara by 32.1% in the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock valued at $51,000 after purchasing an additional 282 shares during the last quarter. Cim LLC increased its holdings in shares of Samsara by 1.3% in the fourth quarter. Cim LLC now owns 31,164 shares of the company's stock valued at $1,362,000 after purchasing an additional 386 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after purchasing an additional 414 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Trading Down 5.3%

IOT stock opened at $36.02 on Friday. The stock has a market capitalization of $20.51 billion, a P/E ratio of -163.73 and a beta of 1.62. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90. The firm has a 50-day moving average price of $40.50 and a 200-day moving average price of $42.94.

Samsara (NYSE:IOT - Get Free Report) last posted 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. The firm had revenue of $366.88 million during the quarter, compared to analysts' expectations 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 for the quarter was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 earnings per share. As a group, equities analysts predict that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Samsara

In other Samsara news, insider John Bicket sold 170,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $39.42, for a total transaction of $6,701,400.00. Following the completion of the transaction, the insider owned 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 can be accessed through this link. Also, insider Sanjit Biswas sold 160,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the transaction, the insider owned 78,000 shares of the company's stock, valued at approximately $3,087,240. The trade was a 67.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,691,872 shares of company stock worth $111,982,470 in the last 90 days. Corporate insiders own 46.49% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on IOT. Evercore ISI set a $45.00 price objective on shares of Samsara in a report on Wednesday, June 25th. Wall Street Zen downgraded shares of Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley decreased their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company upped their price objective on shares of Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Finally, BMO Capital Markets upped their price objective on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $50.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.