Rhumbline Advisers Buys 9,552 Shares of Samsara Inc. (NYSE:IOT)

Rhumbline Advisers raised its position in Samsara Inc. (NYSE:IOT - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,249 shares of the company's stock after acquiring an additional 9,552 shares during the period. Rhumbline Advisers' holdings in Samsara were worth $1,773,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Samsara in the 4th quarter valued at approximately $431,000. Charles Schwab Investment Management Inc. raised its holdings in Samsara by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company's stock valued at $82,004,000 after acquiring an additional 47,911 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Samsara by 101.4% in the 4th quarter. Wells Fargo & Company MN now owns 129,176 shares of the company's stock valued at $5,644,000 after acquiring an additional 65,028 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Samsara by 30.4% in the 4th quarter. Renaissance Technologies LLC now owns 764,300 shares of the company's stock worth $33,392,000 after buying an additional 178,102 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Samsara by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock worth $916,555,000 after buying an additional 863,197 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Insider Activity

In other news, insider Sanjit Biswas sold 94,020 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $42.68, for a total value of $4,012,773.60. Following the transaction, the insider now directly owns 114,000 shares in the company, valued at $4,865,520. This trade represents a 45.20% 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 Adam Eltoukhy sold 18,643 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $39.21, for a total value of $730,992.03. Following the completion of the transaction, the insider now owns 358,720 shares in the company, valued at $14,065,411.20. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,137,417 shares of company stock valued at $89,601,167. Company insiders own 46.49% of the company's stock.

Samsara Price Performance

Shares of NYSE IOT traded up $0.57 during midday trading on Friday, hitting $39.26. The stock had a trading volume of 11,014,153 shares, compared to its average volume of 3,830,966. The company's 50-day simple moving average is $42.41 and its 200 day simple moving average is $44.37. The firm has a market cap of $22.35 billion, a P/E ratio of -178.44 and a beta of 1.74. Samsara Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, beating 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 return on equity of 11.14% and a negative net margin of 9.04%. The business's revenue for the quarter was up 30.7% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. Equities analysts expect that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IOT. Royal Bank Of Canada dropped their target price on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Truist Financial dropped their target price on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a report on Friday, March 7th. BMO Capital Markets increased their target price on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. Finally, Morgan Stanley dropped their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.