Samsara Inc. (NYSE:IOT) Shares Sold by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP reduced its stake in Samsara Inc. by 2.2%, now holding 3,523,390 shares valued at approximately $135 million.
• Insiders have sold a significant number of shares in recent transactions, with 2.69 million shares valued at nearly $112 million sold in the last three months, indicating a 3.19% and 3.53% decrease in ownership for key insiders.
• Samsara Inc. reported a 30.7% year-over-year increase in quarterly revenue, reaching $366.88 million, while earnings per share (EPS) surpassed analysts' expectations at $0.11.

Westfield Capital Management Co. LP decreased its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,523,390 shares of the company's stock after selling 80,186 shares during the period. Westfield Capital Management Co. LP owned approximately 0.62% of Samsara worth $135,052,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of IOT. NewEdge Advisors LLC boosted 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 worth $25,000 after purchasing an additional 414 shares during the period. Keystone Financial Group Inc. grew its position in Samsara by 300.0% in the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock valued at $25,000 after acquiring an additional 450 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Samsara during the first quarter valued at approximately $31,000. Fourth Dimension Wealth LLC bought a new position in Samsara in the fourth quarter worth approximately $38,000. Finally, CWM LLC boosted its holdings 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 buying an additional 836 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Samsara Stock Performance

IOT traded up $0.85 on Wednesday, reaching $36.76. The company had a trading volume of 4,088,423 shares, compared to its average volume of 3,929,349. Samsara Inc. has a 52-week low of $31.40 and a 52-week high of $61.90. The company has a market cap of $20.93 billion, a price-to-earnings ratio of -167.10 and a beta of 1.62. The business has a 50 day simple moving average of $40.13 and a 200 day simple moving average of $42.79.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of Samsara stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total transaction of $16,491,744.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sanjit Biswas sold 160,000 shares of Samsara stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $39.58, for a total value of $6,332,800.00. Following the completion of the transaction, the insider owned 78,000 shares of the company's stock, valued at approximately $3,087,240. This trade represents a 67.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,618,474 shares of company stock valued at $108,951,133 over the last three months. 46.49% of the stock is currently owned by company insiders.

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.