Samsara Inc. $IOT Shares Sold by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments cut its Samsara stake by 11.8% in the third quarter, selling 97,976 shares and retaining 734,237 shares valued at approximately $28 million. Institutional investors collectively own 96.02% of the company.
• Samsara reported quarterly EPS of $0.20, exceeding the $0.16 consensus estimate, while revenue reached $508.44 million, up 29.9% year over year and above analyst expectations.
• Analysts remain broadly positive, with Samsara carrying a “Moderate Buy” consensus rating and a $51.68 average price target versus its recent $41.26 share price; however, insiders sold more than 2.23 million shares worth about $85.3 million over the past three months.

Zevenbergen Capital Investments LLC reduced its position in Samsara Inc. (NYSE:IOT - Free Report) by 11.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 734,237 shares of the company's stock after selling 97,976 shares during the quarter. Zevenbergen Capital Investments LLC owned about 0.13% of Samsara worth $27,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IOT. Brown Advisory Inc. increased its stake in Samsara by 42.1% during the fourth quarter. Brown Advisory Inc. now owns 11,213,972 shares of the company's stock worth $397,536,000 after acquiring an additional 3,322,023 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Samsara by 9.6% in the 2nd quarter. Wellington Management Group LLP now owns 9,327,606 shares of the company's stock worth $302,494,000 after purchasing an additional 813,922 shares during the period. Bamco Inc. NY lifted its stake in shares of Samsara by 21.9% in the 4th quarter. Bamco Inc. NY now owns 4,120,031 shares of the company's stock valued at $146,055,000 after purchasing an additional 741,200 shares in the last quarter. Spyglass Capital Management LLC lifted its stake in shares of Samsara by 4.7% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,085,655 shares of the company's stock valued at $100,068,000 after purchasing an additional 139,009 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Samsara by 41.5% during the 1st quarter. Bank of America Corp DE now owns 2,710,202 shares of the company's stock worth $85,886,000 after purchasing an additional 794,255 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Stock Performance

Shares of IOT stock traded up $0.75 during trading hours on Thursday, reaching $41.26. The company had a trading volume of 5,372,627 shares, compared to its average volume of 6,880,026. The company has a market capitalization of $24.16 billion, a P/E ratio of 257.86, a price-to-earnings-growth ratio of 10.25 and a beta of 1.35. Samsara Inc. has a twelve month low of $23.38 and a twelve month high of $47.47. The stock's fifty day simple moving average is $39.52 and its 200 day simple moving average is $34.83.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BTIG Research increased their target price on shares of Samsara from $45.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, September 4th. Craig Hallum reaffirmed a "buy" rating and set a $54.00 price target on shares of Samsara in a research report on Friday, September 4th. TD Cowen boosted their price objective on shares of Samsara from $48.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, September 4th. Wall Street Zen raised shares of Samsara from a "hold" rating to a "buy" rating in a research report on Saturday, September 12th. Finally, Evercore reissued an "outperform" rating and issued a $55.00 target price on shares of Samsara in a research note on Friday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.68.

Insider Activity at Samsara

In related news, insider Dominic Phillips sold 12,064 shares of the firm's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $38.97, for a total transaction of $470,134.08. Following the completion of the sale, the insider directly owned 742,052 shares of the company's stock, valued at approximately $28,917,766.44. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Adam Eltoukhy sold 7,306 shares of Samsara stock in a transaction on Friday, September 25th. The stock was sold at an average price of $39.07, for a total transaction of $285,445.42. Following the sale, the insider directly owned 381,854 shares in the company, valued at $14,919,035.78. This trade represents a 1.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 2,232,139 shares of company stock valued at $85,296,592. 35.13% of the stock is currently owned by corporate insiders.

About Samsara

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

The Samsara Connected Operations Cloud includes vehicle telematics, GPS tracking, video-based safety, routing and dispatch tools, equipment monitoring, workforce and workflow management, and compliance solutions.

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