Samsara Inc. $IOT Shares Bought by Tidal Investments LLC

Key Points

• Tidal Investments increased its Samsara stake by 347.6% in the second quarter, bringing its holdings to 72,129 shares valued at approximately $2.34 million. Institutional investors collectively own 96.02% of Samsara.
• Analysts remain broadly positive, with Samsara receiving a “Moderate Buy” consensus rating and an average price target of $52.05. Several firms recently raised their targets to between $49 and $54.
• Samsara exceeded quarterly expectations, reporting $0.20 in earnings per share and $508.44 million in revenue, up 29.9% year over year. However, insiders sold more than 2.2 million shares worth approximately $83.8 million over the past 90 days.

Tidal Investments LLC grew its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 347.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 72,129 shares of the company's stock after buying an additional 56,016 shares during the quarter. Tidal Investments LLC's holdings in Samsara were worth $2,339,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in IOT. Markowski Investments purchased a new stake in shares of Samsara in the second quarter valued at about $37,000. Parkside Financial Bank & Trust boosted its holdings in Samsara by 91.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,377 shares of the company's stock valued at $45,000 after purchasing an additional 656 shares in the last quarter. CX Institutional acquired a new position in Samsara during the 2nd quarter worth approximately $64,000. Leonteq Securities AG acquired a new position in Samsara during the 4th quarter worth approximately $76,000. Finally, International Assets Investment Management LLC raised its stake in shares of Samsara by 444.3% during the 1st quarter. International Assets Investment Management LLC now owns 2,961 shares of the company's stock worth $94,000 after buying an additional 2,417 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on IOT shares. JPMorgan Chase & Co. raised their price target on Samsara from $48.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, September 4th. Wolfe Research reaffirmed an "outperform" rating on shares of Samsara in a report on Thursday, June 11th. BTIG Research increased their price objective on Samsara from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, September 4th. Morgan Stanley raised their target price on Samsara from $43.00 to $49.00 and gave the company an "equal weight" rating in a report on Friday, September 4th. Finally, Craig Hallum restated a "buy" rating and set a $54.00 target price on shares of Samsara in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.05.

Insiders Place Their Bets

In other news, insider John Bicket sold 245,925 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $36.77, for a total value of $9,042,662.25. Following the completion of the transaction, the insider owned 94,000 shares in the company, valued at $3,456,380. This trade represents a 72.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjit Biswas sold 244,805 shares of Samsara stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $36.77, for a total value of $9,001,479.85. Following the transaction, the chief executive officer directly owned 94,000 shares of the company's stock, valued at $3,456,380. This trade represents a 72.26% 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 sold 2,219,206 shares of company stock valued at $83,821,258. Company insiders own 35.13% of the company's stock.

Samsara Trading Down 2.6%

IOT stock opened at $40.58 on Thursday. The firm has a 50 day moving average of $38.56 and a 200-day moving average of $34.01. The company has a market cap of $23.64 billion, a price-to-earnings ratio of 253.60, a PEG ratio of 10.25 and a beta of 1.35. 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 released its quarterly earnings results on Thursday, September 3rd. The company reported $0.20 earnings per share for the quarter, topping 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 company's revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. Sell-side 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.