RFG Advisory LLC Buys 15,385 Shares of Samsara Inc. (NYSE:IOT)

RFG Advisory LLC increased its position in Samsara Inc. (NYSE:IOT - Free Report) by 105.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,044 shares of the company's stock after buying an additional 15,385 shares during the period. RFG Advisory LLC's holdings in Samsara were worth $1,152,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Samsara in the fourth quarter valued at approximately $13,464,000. Spire Wealth Management lifted its holdings in shares of Samsara by 58.8% in the 4th quarter. Spire Wealth Management now owns 13,335 shares of the company's stock worth $583,000 after purchasing an additional 4,935 shares in the last quarter. abrdn plc grew its position in Samsara by 11.6% in the 4th quarter. abrdn plc now owns 4,792 shares of the company's stock valued at $210,000 after purchasing an additional 498 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in Samsara by 22.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 459,416 shares of the company's stock valued at $20,072,000 after purchasing an additional 83,133 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Samsara by 37.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,753 shares of the company's stock valued at $863,000 after purchasing an additional 5,410 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IOT has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Raymond James assumed coverage on Samsara in a research note on Wednesday, February 26th. They set a "market perform" rating for the company. Cowen reissued a "buy" rating on shares of Samsara in a report on Friday, March 7th. Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Royal Bank of Canada decreased their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $49.87.

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 23,605 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $46.38, for a total transaction of $1,094,799.90. Following the sale, the insider now directly owns 731,789 shares in the company, valued at approximately $33,940,373.82. This represents a 3.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Bicket sold 33,713 shares of Samsara stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $46.46, for a total transaction of $1,566,305.98. Following the completion of the transaction, the insider now owns 30,745 shares of the company's stock, valued at $1,428,412.70. This represents a 52.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,595,655 shares of company stock valued at $64,985,532 over the last ninety days. 60.04% of the stock is currently owned by insiders.

Samsara Stock Performance

IOT opened at $47.48 on Friday. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The firm has a 50-day moving average of $41.45 and a 200 day moving average of $45.47. The firm has a market cap of $27.03 billion, a P/E ratio of -101.02 and a beta of 1.74.

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. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The firm had revenue of $366.88 million for the quarter, compared to analysts' expectations of $351.44 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company's quarterly revenue was up 30.7% on a year-over-year basis. Equities research analysts predict that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

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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