KLP Kapitalforvaltning AS Increases Stock Position in Samsara Inc. (NYSE:IOT)

Key Points

• KLP Kapitalforvaltning AS increased its stake in Samsara Inc. by 56.6%, owning 96,600 shares valued at approximately $3.7 million.
• Analysts' ratings are mixed, with several upgrading their price targets while others have downgraded the stock; currently, the consensus rating is "Hold" with a price target of $50.64.
• Samsara reported a 30.7% year-over-year revenue increase with $366.88 million in revenue for the quarter, while earnings per share exceeded analyst expectations.

KLP Kapitalforvaltning AS boosted its position in Samsara Inc. (NYSE:IOT - Free Report) by 56.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,600 shares of the company's stock after buying an additional 34,900 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Samsara were worth $3,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Tidal Investments LLC increased its holdings in Samsara by 4.6% in the 4th quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after acquiring an additional 281 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Samsara by 32.1% in the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock worth $51,000 after purchasing an additional 282 shares in the last quarter. Cim LLC increased its stake in shares of Samsara by 1.3% in the fourth quarter. Cim LLC now owns 31,164 shares of the company's stock worth $1,362,000 after purchasing an additional 386 shares in the last quarter. NewEdge Advisors LLC increased its stake 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 in the last quarter. Finally, Wellington Management Group LLP grew its stake in Samsara by 7.3% in the 4th quarter. Wellington Management Group LLP now owns 8,538 shares of the company's stock valued at $373,000 after buying an additional 579 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Samsara

In related news, insider John Bicket sold 45,952 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $38.67, for a total transaction of $1,776,963.84. Following the completion of the sale, the insider directly owned 1,395,347 shares in the company, valued at $53,958,068.49. This represents a 3.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 10,083 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $38.77, for a total value of $390,917.91. Following the sale, the insider owned 358,720 shares of the company's stock, valued at $13,907,574.40. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,712,406 shares of company stock worth $112,812,044 over the last three months. Company insiders own 46.49% of the company's stock.

Samsara Trading Down 2.4%

Shares of IOT traded down $0.94 during midday trading on Tuesday, reaching $38.72. The stock had a trading volume of 769,654 shares, compared to its average volume of 4,652,438. The company's 50-day moving average is $41.16 and its 200 day moving average is $43.09. Samsara Inc. has a 12-month low of $31.40 and a 12-month high of $61.90. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of -176.11 and a beta of 1.63.

Samsara (NYSE:IOT - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Samsara's revenue for the quarter was up 30.7% on a year-over-year basis. Research analysts forecast that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Evercore ISI set a $45.00 price objective on shares of Samsara in a research note on Wednesday, June 25th. Morgan Stanley decreased their price target 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. Wells Fargo & Company upped 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. Piper Sandler set a $53.00 price objective on shares of Samsara and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, Wall Street Zen cut shares of Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock 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.