PDT Partners LLC Grows Stock Position in Samsara Inc. $IOT

Key Points

• PDT Partners LLC increased its holdings in Samsara Inc. by 65.3% during the 1st quarter, acquiring an additional 76,529 shares, bringing its total ownership to 193,688 shares worth approximately $7.42 million.
• Samsara's stock currently has a market cap of $20.56 billion and reported quarterly earnings of $0.11 per share, exceeding analysts' expectations of $0.06.
• Despite recent analyst downgrades, including Wells Fargo maintaining a target price of $50.00, the consensus rating for Samsara's stock remains a "Hold" with a target price of $49.71.

PDT Partners LLC lifted its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 65.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 193,688 shares of the company's stock after buying an additional 76,529 shares during the period. Samsara comprises about 0.5% of PDT Partners LLC's holdings, making the stock its 20th largest position. PDT Partners LLC's holdings in Samsara were worth $7,424,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after acquiring an additional 414 shares in the last quarter. Keystone Financial Group Inc. lifted its position in shares of Samsara by 300.0% during the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock valued at $25,000 after purchasing an additional 450 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Samsara during the first quarter worth about $31,000. Fourth Dimension Wealth LLC purchased a new position in Samsara during the fourth quarter worth about $38,000. Finally, CWM LLC grew its position in Samsara by 385.3% in the 1st quarter. CWM LLC now owns 1,053 shares of the company's stock worth $40,000 after purchasing an additional 836 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IOT shares. Evercore ISI set a $45.00 price objective on shares of Samsara in a research report on Wednesday, June 25th. Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Truist Financial decreased their price objective on Samsara from $42.00 to $35.00 and set a "hold" rating for the company in a report on Monday, August 25th. Piper Sandler reissued an "overweight" rating and issued a $47.00 price objective (down previously from $53.00) on shares of Samsara in a report on Thursday, August 7th. Finally, Zacks Research lowered Samsara from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Samsara currently has an average rating of "Hold" and a consensus price target of $49.71.

Samsara Trading Up 1.3%

Shares of IOT traded up $0.46 during mid-day trading on Thursday, reaching $35.97. 9,923,142 shares of the stock traded hands, compared to its average volume of 4,727,182. The firm has a fifty day moving average price of $36.70 and a 200 day moving average price of $40.28. The company has a market cap of $20.48 billion, a price-to-earnings ratio of -163.50 and a beta of 1.61. Samsara Inc. has a 1 year low of $31.40 and a 1 year high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The business had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same period in the previous year, the business posted $0.03 earnings per share. Samsara's revenue for the quarter was up 30.7% on a year-over-year basis. On average, sell-side analysts anticipate that Samsara Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Samsara

In related news, insider Adam Eltoukhy sold 4,578 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $32.73, for a total value of $149,837.94. Following the completion of the sale, the insider owned 358,720 shares in the company, valued at $11,740,905.60. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Bicket sold 67,349 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $32.64, for a total value of $2,198,271.36. Following the completion of the sale, the insider directly owned 243,000 shares of the company's stock, valued at approximately $7,931,520. This represents a 21.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,601,317 shares of company stock worth $100,422,783 over the last 90 days. Corporate insiders own 46.49% of the company's stock.

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.