California State Teachers Retirement System Reduces Stock Position in Samsara Inc. $IOT

Key Points

• CalSTRS reduced its Samsara stake by 0.7%, selling 3,598 shares and ending the quarter with 484,256 shares valued at approximately $15.7 million. Institutional investors collectively own 96.02% of the company.
• Samsara insiders sold more than 2.2 million shares worth $83.8 million over the past three months, including large Rule 10b5-1 sales by CEO Sanjit Biswas and insider John Bicket.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $52.05. The company also beat quarterly earnings and revenue estimates, reporting $0.20 EPS and $508.4 million in revenue, up 29.9% year over year.

California State Teachers Retirement System cut its stake in Samsara Inc. (NYSE:IOT - Free Report) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 484,256 shares of the company's stock after selling 3,598 shares during the period. California State Teachers Retirement System owned 0.08% of Samsara worth $15,704,422 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Saudi Central Bank raised its stake in shares of Samsara by 91.8% during the 2nd quarter. Saudi Central Bank now owns 24,500 shares of the company's stock worth $795,000 after acquiring an additional 11,723 shares in the last quarter. Markowski Investments acquired a new position in Samsara during the second quarter worth $37,000. Odyssean LLC increased its stake in shares of Samsara by 6.7% during the 2nd quarter. Odyssean LLC now owns 40,963 shares of the company's stock valued at $1,328,000 after acquiring an additional 2,555 shares during the last quarter. Nykredit A S acquired a new stake in shares of Samsara during the second quarter worth approximately $4,020,000. Finally, Spyglass Capital Management LLC grew its position in shares of Samsara by 4.7% during the second quarter. Spyglass Capital Management LLC now owns 3,085,655 shares of the company's stock worth $100,068,000 after acquiring an additional 139,009 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Transactions at Samsara

In related news, CEO Sanjit Biswas sold 244,805 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $36.77, for a total transaction of $9,001,479.85. Following the completion of the sale, the chief executive officer directly owned 94,000 shares of the company's stock, valued at approximately $3,456,380. This trade represents a 72.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Bicket sold 245,925 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $36.77, for a total transaction of $9,042,662.25. Following the completion of the sale, the insider directly owned 94,000 shares of the company's stock, valued at $3,456,380. This trade represents a 72.35% decrease in their position. 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. Insiders have sold a total of 2,219,206 shares of company stock worth $83,821,258 in the last three months. Insiders own 35.13% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IOT shares. BMO Capital Markets increased their price objective on Samsara from $44.00 to $54.00 and gave the company an "outperform" rating in a research report on Friday, September 4th. Weiss Ratings downgraded shares of Samsara from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, September 9th. Truist Financial raised their target price on Samsara from $38.00 to $48.00 and gave the stock a "hold" rating in a research report on Friday, September 4th. BTIG Research boosted their target price on Samsara from $45.00 to $54.00 and gave the company a "buy" rating in a research note on Friday, September 4th. Finally, JPMorgan Chase & Co. raised their price objective on Samsara from $48.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, September 4th. Sixteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $52.05.

Samsara Price Performance

IOT traded down $0.99 on Tuesday, reaching $41.92. The company's stock had a trading volume of 3,857,235 shares, compared to its average volume of 7,012,883. Samsara Inc. has a 1 year low of $23.38 and a 1 year high of $47.47. The stock has a market cap of $24.43 billion, a price-to-earnings ratio of 262.04, a price-to-earnings-growth ratio of 9.45 and a beta of 1.35. The business's 50 day moving average is $38.38 and its 200 day moving average is $33.83.

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

About Samsara

Samsara, Inc is a technology company that provides a cloud-based Connected Operations Platform for organizations that rely on physical operations. Its platform helps businesses monitor vehicles, equipment, worksites and employees, while using connected devices, software and data analytics to improve safety, efficiency and productivity.

The company's products and services include vehicle telematics, GPS tracking, electronic logging and fleet management tools; video-based safety and security systems; equipment and asset monitoring; workforce and workflow management applications; and tools for dispatching, routing, maintenance and site visibility.

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