KBC Group NV Increases Holdings in Samsara Inc. (NYSE:IOT)

KBC Group NV raised its stake in Samsara Inc. (NYSE:IOT - Free Report) by 285.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,232 shares of the company's stock after acquiring an additional 92,011 shares during the quarter. KBC Group NV's holdings in Samsara were worth $4,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC increased its holdings 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 purchasing an additional 414 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Samsara during the 4th quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Samsara during the 1st quarter worth approximately $31,000. IFP Advisors Inc grew its holdings in Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Samsara in the 4th quarter valued at about $38,000. Institutional investors own 96.02% of the company's stock.

Insiders Place Their Bets

In other news, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the completion of the transaction, the insider owned 78,000 shares in the company, valued at approximately $3,087,240. This represents a 67.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Bicket sold 170,000 shares of Samsara stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $39.42, for a total value of $6,701,400.00. Following the completion of the sale, the insider directly owned 367,642 shares of the company's stock, valued at approximately $14,492,447.64. This trade represents a 31.62% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,362,323 shares of company stock valued at $98,213,010. Company insiders own 46.49% of the company's stock.

Samsara Stock Up 2.1%

IOT traded up $0.81 during trading on Friday, hitting $39.19. 4,249,709 shares of the company traded hands, compared to its average volume of 3,997,893. Samsara Inc. has a one year low of $31.40 and a one year high of $61.90. The stock's fifty day moving average is $42.74 and its 200 day moving average is $43.77. The firm has a market cap of $22.31 billion, a P/E ratio of -178.11 and a beta of 1.63.

Samsara (NYSE:IOT - Get Free Report) last released 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. The firm had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The company's revenue was up 30.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. On average, equities research analysts forecast that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IOT. Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Wells Fargo & Company boosted their price target on shares of Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Evercore ISI set a $45.00 price objective on shares of Samsara in a report on Wednesday, June 25th. Morgan Stanley dropped their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, BMO Capital Markets boosted their target price on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research 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 MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $50.64.

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.