Institute for Wealth Management LLC. Purchases New Shares in Samsara Inc. (NYSE:IOT)

Institute for Wealth Management LLC. purchased a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,635 shares of the company's stock, valued at approximately $293,000.

A number of other hedge funds have also recently modified their holdings of IOT. Brighton Jones LLC bought a new stake in shares of Samsara in the 4th quarter worth approximately $13,464,000. CIBC Asset Management Inc boosted its position in shares of Samsara by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock worth $253,000 after purchasing an additional 300 shares in the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Samsara by 15.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,348 shares of the company's stock worth $583,000 after acquiring an additional 1,818 shares in the last quarter. Alberta Investment Management Corp bought a new stake in Samsara in the fourth quarter worth $3,460,000. Finally, Handelsbanken Fonder AB boosted its holdings in Samsara by 12.8% in the fourth quarter. Handelsbanken Fonder AB now owns 53,000 shares of the company's stock worth $2,316,000 after acquiring an additional 6,000 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

Samsara Stock Performance

IOT stock opened at $39.26 on Friday. Samsara Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $61.90. The business's 50-day moving average is $42.41 and its two-hundred day moving average is $44.45. The company has a market cap of $22.35 billion, a price-to-earnings ratio of -178.44 and a beta of 1.74.

Samsara (NYSE:IOT - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share 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 company had revenue of $366.88 million for the quarter, compared to the consensus estimate of $351.44 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. Samsara's revenue was up 30.7% on a year-over-year basis. Equities analysts predict that Samsara Inc. will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jonathan Chadwick sold 22,500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $39.07, for a total value of $879,075.00. Following the transaction, the director now directly owns 37,494 shares of the company's stock, valued at approximately $1,464,890.58. This trade represents a 37.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marc L. Andreessen sold 399,026 shares of the firm's stock in a transaction 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 ninety days, insiders have sold 2,137,417 shares of company stock worth $89,601,167. Company insiders own 46.49% of the company's stock.

Wall Street Analyst Weigh In

IOT has been the topic of a number of analyst reports. BMO Capital Markets upped their price target on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Craig Hallum reiterated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Wall Street Zen downgraded shares of Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank Of Canada lowered their price objective on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Finally, Raymond James Financial initiated coverage on Samsara in a research report on Wednesday, February 26th. They issued a "market perform" rating on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $50.00.

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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