J. Safra Sarasin Holding AG Cuts Position in Samsara Inc. (NYSE:IOT)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Samsara Inc. by 16.3%, selling 8,784 shares and leaving it with a value of $1,723,000 as per the latest SEC filing.
• Multiple hedge funds are changing their positions, with Baker Avenue Asset Management acquiring new shares worth $1,492,000 and Alberta Investment Management Corp increasing its stake by 372.7%, now valued at $14,349,000.
• Despite a recent 5.3% decline in stock price, analysts maintain a consensus rating of "Hold" with an average price target of $50.64, reflecting mixed sentiments among investors.

J. Safra Sarasin Holding AG reduced its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,956 shares of the company's stock after selling 8,784 shares during the period. J. Safra Sarasin Holding AG's holdings in Samsara were worth $1,723,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its stake in shares of Samsara by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company's stock valued at $1,352,186,000 after buying an additional 2,348,101 shares during the period. FMR LLC boosted its stake in Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after purchasing an additional 2,852,575 shares during the last quarter. Jennison Associates LLC boosted its stake in Samsara by 1,881.8% during the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock valued at $450,881,000 after purchasing an additional 11,169,571 shares during the last quarter. Invesco Ltd. boosted its stake in Samsara by 13.7% during the 4th quarter. Invesco Ltd. now owns 3,476,945 shares of the company's stock valued at $151,908,000 after purchasing an additional 419,163 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Samsara by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 2,371,071 shares of the company's stock valued at $103,315,000 after purchasing an additional 91,688 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John Bicket sold 170,000 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $39.42, for a total transaction of $6,701,400.00. Following the completion of the transaction, the insider directly owned 367,642 shares in the company, valued at $14,492,447.64. The trade was a 31.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjit Biswas sold 160,000 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the transaction, the insider owned 78,000 shares of the company's stock, valued at $3,087,240. This trade represents a 67.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,618,474 shares of company stock valued at $108,951,133 over the last 90 days. Company insiders own 46.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IOT. Evercore ISI set a $45.00 price target on Samsara in a research note on Wednesday, June 25th. BMO Capital Markets lifted their price target on Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Wall Street Zen cut shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley dropped their target price on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Finally, Piper Sandler set a $53.00 price target on shares of Samsara and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, Samsara has an average rating of "Hold" and a consensus price target of $50.64.

Samsara Stock Performance

Samsara stock traded up $0.85 during mid-day trading on Wednesday, reaching $36.76. The company's stock had a trading volume of 4,088,423 shares, compared to its average volume of 3,929,349. Samsara Inc. has a 12-month low of $31.40 and a 12-month high of $61.90. The company has a market capitalization of $20.93 billion, a P/E ratio of -167.10 and a beta of 1.62. The firm's fifty day moving average price is $40.13 and its two-hundred day moving average price is $42.79.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. The business had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. Samsara's revenue was up 30.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.03 EPS. On average, research analysts predict that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Samsara Company 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.