Invesco Ltd. Increases Position in Samsara Inc. $IOT

Key Points

• Invesco Ltd. increased its stake in Samsara Inc. by 20.1%, acquiring an additional 697,208 shares, bringing its total ownership to approximately 4.17 million shares valued at $159.99 million.
• Samsara Inc. reported quarterly earnings of $0.11 per share, exceeding estimates, with revenues of $366.88 million, marking a 30.7% increase year-over-year.
• A number of analysts have upgraded their ratings on Samsara, with price targets reaching up to $54.00, while the consensus rating remains a "Hold."

Invesco Ltd. increased its stake in Samsara Inc. (NYSE:IOT - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,174,153 shares of the company's stock after purchasing an additional 697,208 shares during the quarter. Invesco Ltd. owned about 0.73% of Samsara worth $159,995,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its stake in Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after buying an additional 414 shares during the period. Keystone Financial Group Inc. grew its holdings in Samsara by 300.0% in the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock worth $25,000 after acquiring an additional 450 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Samsara during the 1st quarter valued at approximately $31,000. Fourth Dimension Wealth LLC bought a new position in Samsara during the 4th quarter valued at approximately $38,000. Finally, CWM LLC raised its position in shares of Samsara by 385.3% in the 1st quarter. CWM LLC now owns 1,053 shares of the company's stock worth $40,000 after acquiring an additional 836 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

Analyst Ratings Changes

IOT has been the topic of several recent research reports. Wall Street Zen downgraded Samsara from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. BMO Capital Markets raised their price target on Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Wells Fargo & Company increased their price objective on shares of Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Piper Sandler reissued an "overweight" rating and set a $47.00 price objective (down from $53.00) on shares of Samsara in a research note on Thursday, August 7th. Finally, Evercore ISI set a $45.00 price objective on Samsara in a research note on Wednesday, June 25th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $50.21.

Insider Transactions at Samsara

In related news, insider John Bicket sold 37,632 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $36.15, for a total value of $1,360,396.80. Following the completion of the transaction, the insider owned 1,258,347 shares in the company, valued at $45,489,244.05. This trade represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sanjit Biswas sold 27,602 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $36.20, for a total transaction of $999,192.40. Following the transaction, the insider directly owned 851,902 shares of the company's stock, valued at $30,838,852.40. This represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,926,739 shares of company stock valued at $119,969,024 in the last quarter. 46.49% of the stock is currently owned by corporate insiders.

Samsara Trading Up 1.1%

Shares of NYSE:IOT traded up $0.38 during trading on Monday, reaching $33.91. The stock had a trading volume of 1,563,960 shares, compared to its average volume of 4,677,075. Samsara Inc. has a one year low of $31.40 and a one year high of $61.90. The company has a market capitalization of $19.30 billion, a P/E ratio of -154.07 and a beta of 1.62. The firm's 50-day simple moving average is $38.09 and its 200 day simple moving average is $41.88.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. The firm had revenue of $366.88 million during the quarter, compared to analysts' expectations of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The business's quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. Equities research analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current fiscal 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.