Capstone Wealth Management Group LLC Sells 10,120 Shares of Samsara Inc. (NYSE:IOT)

Capstone Wealth Management Group LLC reduced its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 32.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,430 shares of the company's stock after selling 10,120 shares during the period. Capstone Wealth Management Group LLC's holdings in Samsara were worth $821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC acquired a new stake in shares of Samsara during the fourth quarter worth $13,464,000. IFP Advisors Inc raised its holdings in Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after buying an additional 598 shares during the period. Bank of New York Mellon Corp raised its holdings in Samsara by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 750,408 shares of the company's stock worth $32,785,000 after buying an additional 23,990 shares during the period. US Bancorp DE lifted its stake in Samsara by 71.3% during the fourth quarter. US Bancorp DE now owns 5,283 shares of the company's stock valued at $231,000 after buying an additional 2,199 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Samsara in the fourth quarter worth about $31,000. 96.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on IOT. Piper Sandler set a $53.00 price target on shares of Samsara and gave the company an "overweight" rating in a report on Wednesday, June 25th. Wall Street Zen cut shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank Of Canada decreased their target price on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Evercore ISI set a $45.00 price target on Samsara in a research report on Wednesday, June 25th. Finally, BMO Capital Markets raised 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Samsara currently has a consensus rating of "Hold" and a consensus price target of $50.64.

Insider Transactions at Samsara

In related news, insider Sanjit Biswas sold 160,000 shares of the company's stock in a transaction 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 in the company, valued at approximately $3,087,240. This represents a 67.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction on Monday, June 16th. The stock was sold at an average price of $39.07, for a total transaction of $879,075.00. Following the sale, the director owned 37,494 shares in the company, valued at $1,464,890.58. This represents a 37.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,362,323 shares of company stock worth $98,213,010. 46.49% of the stock is currently owned by insiders.

Samsara Stock Performance

Shares of NYSE:IOT traded up $0.81 during midday trading on Friday, hitting $39.19. The company's stock had a trading volume of 4,249,709 shares, compared to its average volume of 3,991,295. The stock's 50 day simple moving average is $42.74 and its 200 day simple moving average is $43.82. The stock has a market capitalization of $22.31 billion, a price-to-earnings ratio of -178.11 and a beta of 1.63. Samsara Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $61.90.

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