Exchange Traded Concepts LLC Has $20.10 Million Position in Samsara Inc. (NYSE:IOT)

Exchange Traded Concepts LLC raised its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 47.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 524,411 shares of the company's stock after purchasing an additional 168,064 shares during the period. Exchange Traded Concepts LLC owned 0.09% of Samsara worth $20,101,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Samsara in the fourth quarter valued at approximately $13,464,000. Blue Trust Inc. lifted its stake in shares of Samsara by 10,923.1% in the 4th quarter. Blue Trust Inc. now owns 7,165 shares of the company's stock valued at $313,000 after purchasing an additional 7,100 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Samsara by 3.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 81,334 shares of the company's stock worth $3,553,000 after purchasing an additional 3,047 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Samsara by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock worth $253,000 after purchasing an additional 300 shares during the period. Finally, Atria Wealth Solutions Inc. increased its holdings in Samsara by 15.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,348 shares of the company's stock valued at $583,000 after purchasing an additional 1,818 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Samsara

In other Samsara news, insider Adam Eltoukhy sold 11,343 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $39.76, for a total transaction of $450,997.68. Following the transaction, the insider now owns 271,922 shares of the company's stock, valued at $10,811,618.72. The trade was a 4.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjit Biswas sold 94,020 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $42.68, for a total value of $4,012,773.60. Following the completion of the sale, the insider now directly owns 114,000 shares of the company's stock, valued at approximately $4,865,520. The trade was a 45.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,060,283 shares of company stock worth $86,586,131. Insiders own 46.49% of the company's stock.

Samsara Stock Up 0.4%

Shares of NYSE:IOT traded up $0.16 during mid-day trading on Monday, reaching $39.37. 3,182,378 shares of the stock were exchanged, compared to its average volume of 3,793,549. The stock's 50 day simple moving average is $42.29 and its 200-day simple moving average is $44.84. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90. The company has a market cap of $22.41 billion, a P/E ratio of -83.68 and a beta of 1.74.

Samsara (NYSE:IOT - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The company had revenue of $366.88 million during the quarter, compared to analysts' expectations of $351.44 million. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The business's quarterly revenue was up 30.7% on a year-over-year basis. During the same period last year, the business earned $0.03 EPS. Analysts anticipate that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada reduced their price objective on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Truist Financial lowered their target price on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Raymond James started coverage on shares of Samsara in a research report on Wednesday, February 26th. They set a "market perform" rating on the stock. Finally, Craig Hallum restated a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Samsara presently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

About Samsara

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.