SG Americas Securities LLC Buys 451,350 Shares of Samsara Inc. (NYSE:IOT)

SG Americas Securities LLC boosted its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 1,329.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 485,312 shares of the company's stock after buying an additional 451,350 shares during the period. SG Americas Securities LLC owned approximately 0.09% of Samsara worth $18,602,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC acquired a new stake in shares of Samsara in the fourth quarter valued at approximately $13,464,000. abrdn plc raised its holdings in shares of Samsara by 11.6% in the fourth quarter. abrdn plc now owns 4,792 shares of the company's stock valued at $210,000 after purchasing an additional 498 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in Samsara by 22.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 459,416 shares of the company's stock worth $20,072,000 after buying an additional 83,133 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Samsara by 37.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,753 shares of the company's stock worth $863,000 after buying an additional 5,410 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Samsara by 10,923.1% during the fourth quarter. Blue Trust Inc. now owns 7,165 shares of the company's stock worth $313,000 after buying an additional 7,100 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Sanjit Biswas sold 94,020 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $42.68, for a total transaction of $4,012,773.60. Following the completion of the sale, the insider now owns 114,000 shares of the company's stock, valued at $4,865,520. This represents a 45.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dominic Phillips sold 54,134 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.60, for a total transaction of $2,089,572.40. Following the sale, the insider now directly owns 638,642 shares of the company's stock, valued at $24,651,581.20. This represents a 7.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,136,917 shares of company stock valued at $89,546,904. 46.49% of the stock is owned by company insiders.

Samsara Stock Down 3.8%

Shares of Samsara stock traded down $1.55 during trading on Friday, reaching $39.14. The company's stock had a trading volume of 5,492,723 shares, compared to its average volume of 3,795,227. The business's 50-day moving average price is $42.29 and its 200-day moving average price is $44.96. The firm has a market cap of $22.28 billion, a PE ratio of -83.28 and a beta of 1.74. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last announced its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 net margin of 21.80% and a negative return on equity of 19.44%. Samsara's quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. Equities analysts predict that Samsara Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IOT. BMO Capital Markets boosted their target price on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Cowen restated a "buy" rating on shares of Samsara in a report on Friday, March 7th. Craig Hallum restated a "hold" rating on shares of Samsara in a report on Friday, March 7th. Wells Fargo & Company boosted their target price on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Piper Sandler restated an "overweight" rating and set a $53.00 target price (up from $44.00) on shares of Samsara in a report on Wednesday, May 14th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Samsara currently has an average rating of "Moderate Buy" and a consensus price target of $50.00.

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.