Oppenheimer Asset Management Inc. Takes Position in Samsara Inc. (NYSE:IOT)

Oppenheimer Asset Management Inc. purchased a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,920 shares of the company's stock, valued at approximately $342,000.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IOT. Royal Bank Of Canada reduced their price objective on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Piper Sandler set a $53.00 target price on Samsara and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Cowen reaffirmed a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Morgan Stanley cut 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 report on Wednesday, April 16th. Finally, Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $50.64.

Samsara Price Performance

NYSE IOT traded up $0.81 during trading on Friday, reaching $39.19. 4,249,709 shares of the company's stock were exchanged, compared to its average volume of 3,991,295. The business has a 50 day moving average price of $42.74 and a 200-day moving average price of $43.82. The stock has a market capitalization of $22.31 billion, a P/E ratio of -178.11 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 earnings per share for the quarter, topping 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 business had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. During the same period in the previous year, the firm earned $0.03 EPS. The firm's revenue was up 30.7% compared to the same quarter last year. On average, analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Samsara

In related news, insider John Bicket sold 170,000 shares of Samsara stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $39.42, for a total transaction of $6,701,400.00. Following the completion of the sale, the insider owned 367,642 shares of the company's stock, valued at approximately $14,492,447.64. The trade was a 31.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marc L. Andreessen sold 399,026 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total transaction of $16,491,744.58. The disclosure for this sale can be found here. Insiders sold 2,362,323 shares of company stock valued at $98,213,010 over the last three months. Company insiders own 46.49% of the company's stock.

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.