Comerica Bank Increases Stock Holdings in Samsara Inc. $IOT

Key Points

• Comerica Bank increased its holdings in Samsara Inc. by 6.6%, owning a total of 617,373 shares valued at approximately $23.66 million as of the latest SEC filing.
• The company's latest quarterly earnings report showed $366.88 million in revenue, surpassing analysts' expectations, with earnings per share at $0.11.
• Wall Street analysts have mixed ratings for Samsara, with the average price target set at $50.21 following various adjustments from different firms.

Comerica Bank raised its position in Samsara Inc. (NYSE:IOT - Free Report) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 617,373 shares of the company's stock after purchasing an additional 38,372 shares during the period. Comerica Bank owned 0.11% of Samsara worth $23,664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of IOT. Jennison Associates LLC boosted its position in shares of Samsara by 1,881.8% during the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock worth $450,881,000 after acquiring an additional 11,169,571 shares in the last quarter. Vanguard Group Inc. lifted its stake in Samsara by 12.0% during the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company's stock worth $900,581,000 after purchasing an additional 2,516,882 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Samsara by 7.1% in the first quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company's stock valued at $1,352,186,000 after purchasing an additional 2,348,101 shares in the last quarter. Bessemer Group Inc. boosted its holdings in Samsara by 2,635,339.0% in the first quarter. Bessemer Group Inc. now owns 1,080,530 shares of the company's stock valued at $41,418,000 after purchasing an additional 1,080,489 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Samsara by 99.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,909,336 shares of the company's stock valued at $74,082,000 after purchasing an additional 952,791 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Samsara news, insider Adam Eltoukhy sold 4,578 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $32.73, for a total transaction of $149,837.94. Following the sale, the insider directly owned 358,720 shares of the company's stock, valued at $11,740,905.60. This trade represents a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Bicket sold 67,349 shares of Samsara stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $32.64, for a total transaction of $2,198,271.36. Following the sale, the insider owned 243,000 shares of the company's stock, valued at approximately $7,931,520. This trade represents a 21.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,931,317 shares of company stock worth $115,635,442. 46.49% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IOT shares. Truist Financial lowered their target price on shares of Samsara from $42.00 to $35.00 and set a "hold" rating for the company in a report on Monday. 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 report on Friday, June 6th. Evercore ISI set a $45.00 price objective on shares of Samsara in a research note on Wednesday, June 25th. BMO Capital Markets lifted their target price on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Finally, Wall Street Zen downgraded Samsara from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Eight equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Samsara has an average rating of "Hold" and a consensus price target of $49.71.

Samsara Trading Up 2.4%

Shares of IOT traded up $0.87 during mid-day trading on Thursday, reaching $36.52. 5,397,365 shares of the company's stock were exchanged, compared to its average volume of 4,839,953. Samsara Inc. has a 52-week low of $31.40 and a 52-week high of $61.90. The company has a 50-day simple moving average of $37.03 and a two-hundred day simple moving average of $40.98.

Samsara (NYSE:IOT - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, beating 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 firm had revenue of $366.88 million for the quarter, compared to analysts' expectations of $351.44 million. During the same quarter in the prior year, the firm earned $0.03 EPS. Samsara's quarterly revenue was up 30.7% on a year-over-year basis. Samsara has set its FY 2026 guidance at 0.390-0.410 EPS. Q2 2026 guidance at 0.060-0.070 EPS. Equities analysts forecast that Samsara Inc. will post -0.3 EPS 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.