Envestnet Asset Management Inc. Buys 44,324 Shares of Samsara Inc. (NYSE:IOT)

Envestnet Asset Management Inc. lifted its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 91.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 92,873 shares of the company's stock after purchasing an additional 44,324 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Samsara were worth $3,560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC increased its stake in Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after acquiring an additional 414 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Samsara in the 1st quarter worth about $31,000. Fourth Dimension Wealth LLC bought a new position in Samsara in the 4th quarter worth about $38,000. National Bank of Canada FI bought a new position in Samsara in the 4th quarter worth about $45,000. Finally, Continuum Advisory LLC increased its stake in Samsara by 32.1% in the 4th 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 last quarter. 96.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IOT has been the subject of several analyst reports. Piper Sandler set a $53.00 target price on Samsara and gave the company an "overweight" rating in a report on Wednesday, June 25th. Wells Fargo & Company increased their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Wall Street Zen cut Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Evercore ISI set a $45.00 price objective on Samsara in a report on Wednesday, June 25th. Finally, BMO Capital Markets increased their price objective on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. 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.com, the stock currently has an average rating of "Hold" and an average target price of $50.64.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 10,083 shares of Samsara stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $38.77, for a total value of $390,917.91. Following the completion of the sale, the insider owned 358,720 shares in the company, valued at approximately $13,907,574.40. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Bicket sold 45,952 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $38.67, for a total transaction of $1,776,963.84. Following the completion of the transaction, the insider owned 1,395,347 shares of the company's stock, valued at approximately $53,958,068.49. This trade represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,712,406 shares of company stock worth $112,812,044 in the last 90 days. Insiders own 46.49% of the company's stock.

Samsara Stock Performance

Shares of IOT opened at $38.97 on Friday. The business's 50-day moving average is $41.32 and its two-hundred day moving average is $43.13. The company has a market capitalization of $22.19 billion, a P/E ratio of -177.13 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 posted its earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $366.88 million for the quarter, compared to analysts' expectations of $351.44 million. During the same period last year, the firm earned $0.03 EPS. The company's quarterly revenue was up 30.7% on a year-over-year basis. Analysts forecast that Samsara Inc. will post -0.3 EPS for the current year.

Samsara Company 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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