Ontario Teachers Pension Plan Board Acquires 13,020 Shares of Samsara Inc. (NYSE:IOT)

Key Points

• Ontario Teachers Pension Plan Board increased its stake in Samsara Inc. by 213.4%, acquiring a total of 19,121 shares valued at $733,000 by the end of the last quarter.
• Insider Adam Eltoukhy sold 10,083 shares of Samsara on July 21st, while another insider, Sanjit Biswas, sold 27,602 shares in August, marking decreases in their respective ownership stakes.
• Research analysts have issued mixed reviews on Samsara, with Wells Fargo lifting the price target to $50.00 while other firms have lowered their ratings, resulting in an average rating of "Hold" for the stock.

Ontario Teachers Pension Plan Board boosted its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 213.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,121 shares of the company's stock after buying an additional 13,020 shares during the period. Ontario Teachers Pension Plan Board's holdings in Samsara were worth $733,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its position in shares of Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after acquiring an additional 414 shares in the last quarter. Keystone Financial Group Inc. lifted its holdings in shares of Samsara by 300.0% in the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock valued at $25,000 after purchasing an additional 450 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Samsara in the first quarter worth $31,000. Fourth Dimension Wealth LLC purchased a new position in shares of Samsara during the fourth quarter valued at $38,000. Finally, CWM LLC raised its position in Samsara by 385.3% during the first quarter. CWM LLC now owns 1,053 shares of the company's stock valued at $40,000 after buying an additional 836 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Sanjit Biswas sold 27,602 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $36.20, for a total value of $999,192.40. Following the transaction, the insider owned 851,902 shares of the company's stock, valued at $30,838,852.40. This represents a 3.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Eltoukhy sold 10,083 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $38.77, for a total value of $390,917.91. Following the completion of the sale, the insider directly owned 358,720 shares of the company's stock, valued at approximately $13,907,574.40. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,926,739 shares of company stock valued at $119,969,024. 46.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Evercore ISI set a $45.00 price objective on Samsara in a research note on Wednesday, June 25th. Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a research report on Saturday. BMO Capital Markets raised their price target on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Morgan Stanley dropped their price target on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company raised their price objective on shares of Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $50.21.

Samsara Price Performance

Shares of Samsara stock traded up $0.17 on Tuesday, hitting $32.67. 5,195,064 shares of the company's stock traded hands, compared to its average volume of 4,679,649. The company has a market capitalization of $18.60 billion, a price-to-earnings ratio of -148.50 and a beta of 1.62. Samsara Inc. has a one year low of $31.40 and a one year high of $61.90. The company has a fifty day moving average of $39.17 and a two-hundred day moving average of $42.39.

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

Samsara 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.