Sumitomo Mitsui Trust Group Inc. Has $20.55 Million Holdings in Samsara Inc. (NYSE:IOT)

Sumitomo Mitsui Trust Group Inc. raised its position in Samsara Inc. (NYSE:IOT - Free Report) by 16.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 536,136 shares of the company's stock after buying an additional 76,720 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.09% of Samsara worth $20,550,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after buying an additional 414 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Samsara during the 4th quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Samsara in the 1st quarter valued at $31,000. IFP Advisors Inc boosted its position in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Samsara during the fourth quarter worth $38,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were 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 in the company, valued at $3,087,240. This represents a 67.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $39.07, for a total value of $879,075.00. Following the completion of the transaction, the director owned 37,494 shares of the company's stock, valued at $1,464,890.58. The trade was a 37.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,362,323 shares of company stock valued at $98,213,010 over the last ninety days. Insiders own 46.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IOT shares. Wells Fargo & Company increased their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Wall Street Zen downgraded shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Evercore ISI set a $45.00 price objective on shares of Samsara in a report on Wednesday, June 25th. Royal Bank Of Canada cut their target price on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, BMO Capital Markets boosted their price target on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $50.64.

Samsara Trading Up 2.1%

Shares of Samsara stock traded up $0.81 during trading on Friday, reaching $39.19. The stock had a trading volume of 4,249,709 shares, compared to its average volume of 3,991,295. The company has a market capitalization of $22.31 billion, a price-to-earnings ratio of -178.11 and a beta of 1.63. The stock has a fifty day moving average price of $42.74 and a two-hundred day moving average price of $43.82. Samsara Inc. has a 52 week low of $31.40 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. 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 for the quarter, compared to analyst estimates of $351.44 million. During the same quarter last year, the firm earned $0.03 EPS. Samsara's revenue for the quarter was up 30.7% compared to the same quarter last year. On average, equities analysts forecast that Samsara Inc. will post -0.3 EPS 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.