Victory Capital Management Inc. Has $1.85 Million Stock Position in Samsara Inc. (NYSE:IOT)

Key Points

• Victory Capital Management Inc. has reduced its stake in Samsara Inc. by 36.9%, selling 28,244 shares, leaving it with 48,198 shares valued at approximately $1.85 million.
• Insider John Bicket sold 45,952 shares at an average price of $38.67, decreasing his ownership by 3.19%, while insider Sanjit Biswas sold 35,842 shares, reducing his ownership by 3.53%.
• The consensus rating for Samsara stock is currently a "Hold" with an average price target set at $50.64, while some analysts have upgraded their ratings in recent reports.

Victory Capital Management Inc. cut its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,198 shares of the company's stock after selling 28,244 shares during the period. Victory Capital Management Inc.'s holdings in Samsara were worth $1,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC raised its stake in shares of Samsara by 18.9% in the 1st quarter. TimesSquare Capital Management LLC now owns 857,331 shares of the company's stock valued at $32,861,000 after purchasing an additional 136,385 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Samsara in the 1st quarter valued at about $275,000. SBI Securities Co. Ltd. raised its stake in shares of Samsara by 18.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 11,678 shares of the company's stock valued at $448,000 after purchasing an additional 1,816 shares during the period. Left Brain Wealth Management LLC raised its stake in shares of Samsara by 45.7% in the 1st quarter. Left Brain Wealth Management LLC now owns 10,200 shares of the company's stock valued at $391,000 after purchasing an additional 3,200 shares during the period. Finally, CWM LLC raised its stake in shares of Samsara by 385.3% in the 1st quarter. CWM LLC now owns 1,053 shares of the company's stock valued at $40,000 after purchasing an additional 836 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Insider Activity at Samsara

In related news, insider John Bicket sold 45,952 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Adam Eltoukhy sold 10,083 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $38.77, for a total value of $390,917.91. Following the completion of the sale, the insider owned 358,720 shares of the company's stock, valued at approximately $13,907,574.40. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,691,872 shares of company stock worth $111,982,470. Company insiders own 46.49% of the company's stock.

Analysts Set New Price Targets

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

Samsara Trading Down 1.3%

Shares of NYSE:IOT traded down $0.49 during trading on Thursday, reaching $38.04. 2,657,794 shares of the stock were exchanged, compared to its average volume of 3,845,321. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90. The firm has a market cap of $21.65 billion, a PE ratio of -172.89 and a beta of 1.63. The stock has a 50-day moving average price of $40.70 and a 200-day moving average price of $43.00.

Samsara (NYSE:IOT - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, sell-side analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Samsara Company 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.