GAMMA Investing LLC Raises Stock Position in Samsara Inc. (NYSE:IOT)

GAMMA Investing LLC grew its position in Samsara Inc. (NYSE:IOT - Free Report) by 33,119.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,925 shares of the company's stock after acquiring an additional 21,859 shares during the quarter. GAMMA Investing LLC's holdings in Samsara were worth $840,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after purchasing an additional 2,852,575 shares in the last quarter. Jordan Park Trust Co LLC purchased a new position in shares of Samsara in the fourth quarter worth about $112,041,000. Norges Bank acquired a new position in Samsara during the fourth quarter worth about $106,274,000. Arrowstreet Capital Limited Partnership grew its stake in Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock valued at $181,045,000 after acquiring an additional 2,148,081 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Samsara by 577.7% in the 4th quarter. Franklin Resources Inc. now owns 1,458,813 shares of the company's stock valued at $63,736,000 after acquiring an additional 1,243,561 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Samsara

In related news, insider Dominic Phillips sold 9,059 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $41.23, for a total value of $373,502.57. Following the sale, the insider now directly owns 887,493 shares of the company's stock, valued at approximately $36,591,336.39. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 11,343 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $39.76, for a total transaction of $450,997.68. Following the completion of the sale, the insider now owns 271,922 shares in the company, valued at $10,811,618.72. This represents a 4.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,060,283 shares of company stock worth $86,586,131. Company insiders own 46.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Cowen restated a "buy" rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets boosted their price objective on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 target price (up from $44.00) on shares of Samsara in a research note on Wednesday, May 14th. Morgan Stanley reduced their price target on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Truist Financial dropped their price objective on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.00.

Samsara Stock Performance

Shares of NYSE:IOT traded up $0.46 during trading on Wednesday, hitting $38.68. The company's stock had a trading volume of 7,690,758 shares, compared to its average volume of 4,371,625. Samsara Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $61.90. The company has a market capitalization of $22.02 billion, a PE ratio of -175.80 and a beta of 1.74. The business has a 50 day moving average price of $42.37 and a two-hundred day moving average price of $44.70.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $366.88 million during the quarter, compared to analysts' expectations of $351.44 million. During the same period in the prior year, the firm posted $0.03 EPS. The business's quarterly revenue was up 30.7% compared to the same quarter last year. As a group, equities analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal 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.