Royal Fund Management LLC Acquires 29,200 Shares of Samsara Inc. $IOT

Key Points

• Royal Fund Management increased its Samsara stake by 34.2% in the third quarter, acquiring 29,200 shares and bringing its total holdings to 114,500 shares valued at approximately $4.37 million. Institutional investors collectively own 96.02% of Samsara.
• Analysts remain broadly positive on Samsara, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $51.68. Several firms recently raised their targets to between $49 and $58.
• Samsara exceeded quarterly expectations, reporting $0.20 in EPS versus the $0.16 consensus and revenue of $508.44 million, up 29.9% year over year. However, insiders sold more than 2.23 million shares worth about $88.3 million over the past three months.

Royal Fund Management LLC raised its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 34.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,500 shares of the company's stock after buying an additional 29,200 shares during the period. Royal Fund Management LLC's holdings in Samsara were worth $4,366,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in IOT. Markowski Investments bought a new stake in shares of Samsara during the 2nd quarter valued at $37,000. Parkside Financial Bank & Trust increased its stake in shares of Samsara by 91.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,377 shares of the company's stock worth $45,000 after purchasing an additional 656 shares in the last quarter. Anchor Investment Management LLC purchased a new stake in shares of Samsara in the 2nd quarter worth $46,000. Westwind Capital purchased a new stake in shares of Samsara in the 3rd quarter worth $64,000. Finally, CX Institutional bought a new position in Samsara in the 2nd quarter worth $64,000. 96.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on IOT shares. BNP Paribas Exane lifted their target price on Samsara from $40.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, September 4th. BMO Capital Markets raised their price objective on Samsara from $44.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, September 4th. Wells Fargo & Company lifted their price objective on Samsara from $50.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, September 4th. Wall Street Zen raised Samsara from a "hold" rating to a "buy" rating in a research report on Saturday, September 12th. Finally, Morgan Stanley boosted their price objective on Samsara from $43.00 to $49.00 and gave the company an "equal weight" rating in a research note on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.68.

Samsara Stock Performance

Shares of IOT stock opened at $43.74 on Friday. Samsara Inc. has a 52-week low of $23.38 and a 52-week high of $47.47. The firm has a market capitalization of $25.62 billion, a PE ratio of 273.40, a PEG ratio of 10.62 and a beta of 1.35. The stock has a fifty day simple moving average of $40.13 and a two-hundred day simple moving average of $35.59.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.04. The business had revenue of $508.44 million for the quarter, compared to analysts' expectations of $483.29 million. Samsara had a return on equity of 4.13% and a net margin of 4.90%. The business's quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. Samsara has set its FY 2027 guidance at 0.760-0.780 EPS and its Q3 2027 guidance at 0.180-1.090 EPS. On average, sell-side analysts forecast that Samsara Inc. will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 158,402 shares of the company's stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $37.74, for a total value of $5,978,091.48. Following the completion of the transaction, the chief executive officer directly owned 51,600 shares in the company, valued at $1,947,384. This represents a 75.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Bicket sold 158,427 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $37.73, for a total transaction of $5,977,450.71. Following the sale, the insider directly owned 51,600 shares of the company's stock, valued at approximately $1,946,868. This trade represents a 75.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 2,234,114 shares of company stock worth $88,311,353. 35.13% of the stock is owned by insiders.

Samsara Company Profile

Samsara, Inc is a technology company that provides connected operations solutions for organizations with physical operations. Its Samsara Connected Operations Cloud combines Internet of Things (IoT) hardware, cloud-based software and data analytics to help businesses monitor vehicles, equipment, facilities and frontline operations.

The company's products and services include vehicle telematics, GPS fleet tracking, AI-enabled dash cameras and video-based safety tools, equipment and asset monitoring, electronic logging and compliance solutions, routing and dispatch software, and maintenance and workforce-management applications.

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