Sit Investment Associates Inc. Sells 9,785 Shares of Samsara Inc. $IOT

Key Points

• Sit Investment Associates Inc. reduced its stake in Samsara Inc. by 12.3%, owning 69,615 shares after selling 9,785 shares in the recent quarter, with holdings valued at approximately $2.67 million.
• Samsara reported $0.11 earnings per share in its latest earnings, exceeding analyst expectations of $0.06, and had a revenue of $366.88 million, up 30.7% year-over-year.
• Despite notable declines in insider ownership, with over 2.9 million shares sold by insiders recently, Samsara's stock opened at $33.51, reflecting a 4.0% uptick on the trading day.

Sit Investment Associates Inc. lowered its stake in Samsara Inc. (NYSE:IOT - Free Report) by 12.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,615 shares of the company's stock after selling 9,785 shares during the quarter. Sit Investment Associates Inc.'s holdings in Samsara were worth $2,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings 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 acquiring an additional 414 shares during the last quarter. Keystone Financial Group Inc. lifted its holdings in shares of Samsara by 300.0% in the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock worth $25,000 after acquiring an additional 450 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Samsara in the 1st quarter valued at approximately $31,000. Fourth Dimension Wealth LLC bought a new position in Samsara in the 4th quarter valued at approximately $38,000. Finally, CWM LLC raised its holdings in 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 during the last quarter. Institutional investors own 96.02% of the company's stock.

Analyst Upgrades and Downgrades

IOT has been the subject of a number of recent analyst reports. BMO Capital Markets increased their target price on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Wells Fargo & Company increased their target price on shares of Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Evercore ISI set a $45.00 target price on shares of Samsara in a research report on Wednesday, June 25th. Wall Street Zen downgraded shares of Samsara from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Piper Sandler reissued an "overweight" rating and set a $47.00 target price (down previously from $53.00) on shares of Samsara in a research report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $50.21.

Insider Buying and Selling

In other Samsara news, insider Sanjit Biswas sold 160,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the transaction, the insider directly owned 78,000 shares in the company, valued at approximately $3,087,240. This trade represents a 67.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marc L. Andreessen sold 399,026 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total value of $16,491,744.58. The disclosure for this sale can be found here. Insiders have sold a total of 2,691,838 shares of company stock valued at $108,950,933 in the last 90 days. Insiders own 46.49% of the company's stock.

Samsara Stock Performance

Shares of IOT stock traded down $0.3050 during trading hours on Wednesday, hitting $32.8150. 1,731,945 shares of the company were exchanged, compared to its average volume of 4,657,505. The firm has a market cap of $18.68 billion, a P/E ratio of -149.28 and a beta of 1.62. Samsara Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $61.90. The company has a 50 day simple moving average of $37.70 and a two-hundred day simple moving average of $41.69.

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 analysts' consensus estimates 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 company had revenue of $366.88 million for the quarter, compared to analysts' expectations of $351.44 million. During the same period last year, the business earned $0.03 EPS. Samsara's quarterly revenue was up 30.7% compared to the same quarter last year. Samsara has set its FY 2026 guidance at 0.390-0.410 EPS. Q2 2026 guidance at 0.060-0.070 EPS. As a group, sell-side analysts expect that Samsara Inc. will post -0.3 EPS for the current fiscal year.

About Samsara

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.