Samsara Inc. (NYSE:IOT) Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its stake in Samsara Inc. by 16.9% during the first quarter, now owning 33,709 shares valued at approximately $1.29 million.
• Insider trading activity was notable, with Adam Eltoukhy and John Bicket selling a combined total of over 55,000 shares in recent transactions, signaling a decrease in their holdings.
• Samsara reported a quarterly earnings per share (EPS) of $0.11, exceeding analysts' expectations of $0.06, and a 30.7% year-over-year increase in revenue.

Allianz Asset Management GmbH decreased its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,709 shares of the company's stock after selling 6,868 shares during the period. Allianz Asset Management GmbH's holdings in Samsara were worth $1,292,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Samsara by 24.0% in the fourth 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 period. Jennison Associates LLC increased its holdings in shares of Samsara by 1,881.8% in the first 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 period. Invesco Ltd. increased its holdings in shares of Samsara by 13.7% in the fourth 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 period. Geode Capital Management LLC increased its holdings in shares of Samsara by 4.0% in the fourth 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 period. Finally, Alliancebernstein L.P. increased its holdings in shares of Samsara by 9.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,975,947 shares of the company's stock valued at $86,329,000 after purchasing an additional 164,502 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Stock Performance

IOT opened at $38.04 on Friday. The business's fifty day moving average is $40.70 and its two-hundred day moving average is $43.00. The company has a market cap of $21.65 billion, a price-to-earnings ratio of -172.89 and a beta of 1.63. Samsara Inc. has a one year low of $31.40 and a one year high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last posted 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. The company had revenue of $366.88 million for the quarter, compared to the consensus estimate of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. Samsara's quarterly 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 earnings per share. On average, analysts predict that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Samsara news, insider Adam Eltoukhy sold 10,083 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $38.77, for a total transaction of $390,917.91. Following the sale, the insider directly owned 358,720 shares in the company, valued at approximately $13,907,574.40. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Bicket sold 45,952 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $38.67, for a total value of $1,776,963.84. Following the sale, the insider owned 1,395,347 shares in the company, valued at approximately $53,958,068.49. The trade was a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,691,872 shares of company stock worth $111,982,470. 46.49% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI set a $45.00 target price on Samsara in a report on Wednesday, June 25th. Morgan Stanley dropped their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company boosted their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Piper Sandler set a $53.00 target price on Samsara and gave the company an "overweight" rating in a report on Wednesday, June 25th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $50.64.

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.

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