Covea Finance Invests $2.55 Million in Samsara Inc. $IOT

Key Points

• Covea Finance has invested approximately $2.55 million in Samsara Inc. by acquiring 64,000 shares during the second quarter, indicating growing interest from institutional investors.
• Wall Street analysts have raised their target prices for Samsara, with an average consensus target price of $49.38 and a "Moderate Buy" rating due to strong quarterly earnings and growth expectations.
• Despite insider selling of over 3 million shares in recent months, Samsara has shown resilience with a year-over-year revenue increase of 30.4% and earnings exceeding analyst predictions.

Covea Finance purchased a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 64,000 shares of the company's stock, valued at approximately $2,546,000.

A number of other hedge funds have also made changes to their positions in IOT. Keystone Financial Group Inc. lifted its stake in 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Samsara in the first quarter valued at $31,000. CWM LLC lifted its stake in Samsara by 385.3% in the first quarter. CWM LLC now owns 1,053 shares of the company's stock valued at $40,000 after buying an additional 836 shares during the last quarter. AlphaQuest LLC lifted its stake in Samsara by 519.6% in the first quarter. AlphaQuest LLC now owns 1,041 shares of the company's stock valued at $40,000 after buying an additional 873 shares during the last quarter. Finally, Family Legacy Financial Solutions LLC bought a new stake in Samsara in the second quarter valued at $40,000. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

IOT has been the topic of a number of recent research reports. Royal Bank Of Canada raised their target price on Samsara from $44.00 to $46.00 and gave the company an "outperform" rating in a research note on Friday, September 5th. Craig Hallum upgraded Samsara from a "hold" rating to a "buy" rating and raised their target price for the company from $42.00 to $48.00 in a research note on Friday, September 5th. Piper Sandler raised their target price on Samsara from $47.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Zacks Research cut Samsara from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Wells Fargo & Company raised their price target on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $49.38.

Samsara Trading Down 1.9%

Shares of IOT opened at $39.31 on Tuesday. The business's 50-day moving average price is $36.83 and its 200 day moving average price is $39.22. The stock has a market capitalization of $22.55 billion, a P/E ratio of -245.71 and a beta of 1.61. Samsara Inc. has a 1-year low of $31.40 and a 1-year high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.05. Samsara had a negative return on equity of 7.53% and a negative net margin of 6.16%.The firm had revenue of $391.48 million for the quarter, compared to analysts' expectations of $372.22 million. During the same quarter last year, the business posted $0.05 EPS. Samsara's revenue was up 30.4% on a year-over-year basis. Samsara has set its FY 2026 guidance at 0.450-0.470 EPS. Q3 2026 guidance at 0.110-0.12 EPS. On average, research analysts predict that Samsara Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In other Samsara news, insider Dominic Phillips sold 46,253 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.15, for a total transaction of $1,810,804.95. Following the completion of the sale, the insider directly owned 683,425 shares in the company, valued at approximately $26,756,088.75. This trade represents a 6.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 793,331 shares of the firm's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $38.55, for a total value of $30,582,910.05. The disclosure for this sale can be found here. In the last three months, insiders sold 3,386,158 shares of company stock worth $126,976,919. Corporate insiders own 46.49% of the company's stock.

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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