Samsara Inc. (NYSE:IOT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its position in Samsara Inc. (NYSE:IOT - Free Report) by 26.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC lifted its position in shares of Samsara by 262.0% in the fourth 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. Jones Financial Companies Lllp purchased a new stake in Samsara in the 4th quarter valued at about $31,000. IFP Advisors Inc grew its holdings in Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock valued at $35,000 after buying an additional 598 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Samsara during the 4th quarter valued at about $38,000. Finally, National Bank of Canada FI purchased a new position in shares of Samsara during the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insiders Place Their Bets

In other Samsara news, Director Marc L. Andreessen sold 399,026 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total value of $16,491,744.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 11,343 shares of the company's stock in a transaction dated 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. This represents a 4.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,060,283 shares of company stock valued at $86,586,131. Company insiders own 46.49% of the company's stock.

Analyst Upgrades and Downgrades

IOT has been the subject of several research analyst reports. Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 target price (up from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Wells Fargo & Company boosted their price target on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Truist Financial cut their price target on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Finally, Raymond James Financial initiated coverage on shares of Samsara in a research report on Wednesday, February 26th. They set a "market perform" rating for the company. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.00.

Samsara Stock Performance

Shares of Samsara stock opened at $38.22 on Wednesday. Samsara Inc. has a 1 year low of $28.12 and a 1 year high of $61.90. The firm's 50-day simple moving average is $42.37 and its 200-day simple moving average is $44.70. The firm has a market cap of $21.76 billion, a PE ratio of -173.74 and a beta of 1.74.

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

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.

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