Samsara Inc. $IOT Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Samsara stake by 5.1% in the third quarter, adding 32,122 shares and ending the period with 666,778 shares worth about $25.4 million.
• Samsara reported quarterly EPS of $0.20, beating the $0.16 consensus, while revenue rose 29.9% year over year to $508.4 million—also above estimates.
• Analysts maintain a Moderate Buy consensus rating and an average price target of $51.68; recent targets include $55 from BNP Paribas Exane and $54 from Craig Hallum.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 666,778 shares of the company's stock after purchasing an additional 32,122 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Samsara worth $25,424,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in shares of Samsara during the second quarter worth approximately $35,702,000. Wellington Management Group LLP raised its position in shares of Samsara by 9.6% in the second quarter. Wellington Management Group LLP now owns 9,327,606 shares of the company's stock valued at $302,494,000 after buying an additional 813,922 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Samsara by 41.5% in the first quarter. Bank of America Corp DE now owns 2,710,202 shares of the company's stock valued at $85,886,000 after buying an additional 794,255 shares during the period. Spyglass Capital Management LLC boosted its stake in shares of Samsara by 25.5% in the first quarter. Spyglass Capital Management LLC now owns 2,946,646 shares of the company's stock valued at $93,379,000 after buying an additional 599,651 shares during the period. Finally, First Trust Advisors LP grew its position in Samsara by 64.3% during the first quarter. First Trust Advisors LP now owns 1,494,291 shares of the company's stock worth $47,354,000 after buying an additional 584,854 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

Samsara Trading Down 4.2%

Shares of NYSE:IOT opened at $41.01 on Friday. The firm has a 50 day moving average of $40.74 and a 200-day moving average of $34.45. The stock has a market capitalization of $24.02 billion, a PE ratio of 256.33, a PEG ratio of 10.51 and a beta of 1.33. Samsara Inc. has a 12 month low of $23.38 and a 12 month high of $47.47.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings results on Thursday, September 3rd. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $508.44 million for the quarter, compared to analyst estimates of $483.29 million. Samsara had a net margin of 4.90% and a return on equity of 4.13%. The firm's revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. 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, research analysts predict that Samsara Inc. will post 0.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Craig Hallum restated a "buy" rating and set a $54.00 price objective on shares of Samsara in a research note on Friday, September 4th. BNP Paribas Exane lifted their price objective on Samsara from $40.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, September 4th. Guggenheim upped their target price on Samsara from $45.00 to $51.00 and gave the company a "buy" rating in a research report on Friday, September 4th. Morgan Stanley upped their target price on Samsara from $43.00 to $49.00 and gave the company an "equal weight" rating in a research report on Friday, September 4th. Finally, Cantor Fitzgerald began coverage on Samsara in a report on Monday, September 14th. They set an "overweight" rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $51.68.

Insider Transactions at Samsara

In other news, insider John Bicket sold 42,507 shares of Samsara stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $41.58, for a total value of $1,767,441.06. Following the transaction, the insider owned 561,398 shares in the company, valued at approximately $23,342,928.84. This trade represents a 7.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Dominic Phillips sold 11,710 shares of Samsara stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $41.47, for a total value of $485,613.70. Following the completion of the transaction, the insider owned 742,052 shares in the company, valued at approximately $30,772,896.44. The trade was a 1.55% 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. In the last 90 days, insiders have sold 2,237,768 shares of company stock worth $91,043,012. 35.13% of the stock is owned by insiders.

Samsara 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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