Sumitomo Mitsui DS Asset Management Company Ltd Acquires 8,743 Shares of Samsara Inc. (NYSE:IOT)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 44.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,496 shares of the company's stock after buying an additional 8,743 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Samsara were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in shares of Samsara in the 4th quarter worth $13,464,000. IFP Advisors Inc raised its position in Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after acquiring an additional 598 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Samsara by 3.3% in the 4th quarter. Bank of New York Mellon Corp now owns 750,408 shares of the company's stock valued at $32,785,000 after acquiring an additional 23,990 shares during the last quarter. US Bancorp DE grew its stake in shares of Samsara by 71.3% in the 4th quarter. US Bancorp DE now owns 5,283 shares of the company's stock worth $231,000 after purchasing an additional 2,199 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Samsara during the fourth quarter valued at approximately $31,000. Institutional investors own 96.02% of the company's stock.

Insider Buying and Selling at Samsara

In related 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 completion of the transaction, the insider directly owned 78,000 shares of the company's stock, valued at $3,087,240. This trade represents a 67.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Bicket sold 170,000 shares of Samsara stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $39.42, for a total value of $6,701,400.00. Following the transaction, the insider directly owned 367,642 shares in the company, valued at $14,492,447.64. The trade was a 31.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,362,323 shares of company stock worth $98,213,010 over the last quarter. Insiders own 46.49% of the company's stock.

Wall Street Analyst Weigh In

IOT has been the subject of a number of recent analyst reports. Piper Sandler set a $53.00 price target on Samsara and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Evercore ISI set a $45.00 price objective on shares of Samsara in a research note on Wednesday, June 25th. BMO Capital Markets boosted their target price on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Morgan Stanley lowered their price target on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Wall Street Zen downgraded Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $50.64.

Samsara Stock Down 0.1%

Shares of IOT traded down $0.03 during mid-day trading on Monday, hitting $39.08. 4,005,820 shares of the company's stock were exchanged, compared to its average volume of 3,997,925. The stock's 50-day simple moving average is $42.74 and its 200-day simple moving average is $43.78. Samsara Inc. has a 52 week low of $31.40 and a 52 week high of $61.90. The firm has a market cap of $22.25 billion, a price-to-earnings ratio of -177.64 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 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The business's quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

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.