Brio Consultants LLC Makes New Investment in Samsara Inc. (NYSE:IOT)

Key Points

• Brio Consultants LLC has acquired a new stake in Samsara Inc., purchasing 16,912 shares valued at about $648,000 during the first quarter of the year.
• Several institutional investors, including FMR LLC and Jennison Associates LLC, have significantly increased their holdings in Samsara, which is now 96.02% owned by institutional investors.
• Samsara reported an earnings per share (EPS) of $0.11 for the last quarter, exceeding analysts' expectations, with a revenue increase of 30.7% year-over-year.

Brio Consultants LLC acquired a new stake in Samsara Inc. (NYSE:IOT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,912 shares of the company's stock, valued at approximately $648,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IOT. NewEdge Advisors LLC lifted its stake in shares of Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 414 shares in the last quarter. Keystone Financial Group Inc. lifted its stake in shares of Samsara by 300.0% during the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock worth $25,000 after purchasing an additional 450 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Samsara during the first quarter worth about $31,000. Fourth Dimension Wealth LLC acquired a new position in shares of Samsara during the fourth quarter worth about $38,000. Finally, National Bank of Canada FI acquired a new position in shares of Samsara during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 96.02% of the company's stock.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of recent research reports. Evercore ISI set a $45.00 price objective on Samsara in a research note on Wednesday, June 25th. Piper Sandler set a $53.00 price target on Samsara and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Morgan Stanley cut their price target on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company boosted their price target on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, Wall Street Zen cut Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $50.64.

Samsara Stock Down 5.3%

Shares of NYSE:IOT traded down $2.03 during trading on Friday, hitting $36.00. 2,858,122 shares of the company traded hands, compared to its average volume of 4,644,170. The stock has a market capitalization of $20.49 billion, a price-to-earnings ratio of -163.63 and a beta of 1.63. The business's fifty day moving average is $40.70 and its 200-day moving average is $43.00. Samsara Inc. has a one year low of $31.40 and a one year high of $61.90.

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

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $39.58, for a total value of $6,332,800.00. Following the completion of the transaction, the insider directly owned 78,000 shares of the company's stock, valued at $3,087,240. This represents a 67.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marc L. Andreessen sold 399,026 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total value of $16,491,744.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,691,872 shares of company stock valued at $111,982,470. 46.49% of the stock is owned by corporate insiders.

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.