Skandinaviska Enskilda Banken AB publ Purchases 14,500 Shares of Samsara Inc. (NYSE:IOT)

Skandinaviska Enskilda Banken AB publ increased its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 37.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,353 shares of the company's stock after acquiring an additional 14,500 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Samsara were worth $2,045,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in shares of Samsara by 7.1% during the first quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company's stock worth $1,352,186,000 after acquiring an additional 2,348,101 shares during the period. FMR LLC raised its holdings in shares of Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after acquiring an additional 2,852,575 shares during the period. Jennison Associates LLC raised its holdings in shares of Samsara by 1,881.8% during the first quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock worth $450,881,000 after acquiring an additional 11,169,571 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after acquiring an additional 2,148,081 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Samsara by 13.7% during the fourth quarter. Invesco Ltd. now owns 3,476,945 shares of the company's stock worth $151,908,000 after acquiring an additional 419,163 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IOT. Wells Fargo & Company raised their price objective on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. BMO Capital Markets raised their price objective on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Evercore ISI set a $45.00 price target on shares of Samsara in a research report on Wednesday, June 25th. Piper Sandler set a $53.00 price target on shares of Samsara and gave the stock an "overweight" rating in a research report on Wednesday, June 25th. Finally, Morgan Stanley cut their price target on shares of 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $50.64.

Samsara Price Performance

Samsara stock opened at $39.73 on Tuesday. The firm has a market capitalization of $22.62 billion, a PE ratio of -180.60 and a beta of 1.63. The company's 50-day moving average is $41.16 and its 200-day moving average is $43.09. Samsara Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $61.90.

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

Insider Buying and Selling

In related news, insider Adam Eltoukhy sold 10,083 shares of Samsara stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $38.77, for a total transaction 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. The trade was a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Bicket sold 45,952 shares of Samsara 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 sale, the insider directly owned 1,395,347 shares of the company's stock, valued at $53,958,068.49. The trade was a 3.19% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,712,406 shares of company stock valued at $112,812,044. Company insiders own 46.49% of the company's stock.

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.

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