Swiss National Bank Acquires 116,100 Shares of Samsara Inc. (NYSE:IOT)

Swiss National Bank raised its stake in Samsara Inc. (NYSE:IOT - Free Report) by 18.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 733,200 shares of the company's stock after buying an additional 116,100 shares during the period. Swiss National Bank owned 0.13% of Samsara worth $28,104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC increased its position in Samsara by 1,881.8% in the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock valued at $450,881,000 after acquiring an additional 11,169,571 shares during the period. Vanguard Group Inc. lifted its stake in Samsara by 12.0% in the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company's stock valued at $900,581,000 after buying an additional 2,516,882 shares during the period. Baillie Gifford & Co. boosted its stake in 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 in the last quarter. Bessemer Group Inc. boosted its position in shares of Samsara by 2,635,339.0% during the 1st quarter. Bessemer Group Inc. now owns 1,080,530 shares of the company's stock worth $41,418,000 after purchasing an additional 1,080,489 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Samsara by 99.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,909,336 shares of the company's stock valued at $74,082,000 after acquiring an additional 952,791 shares during the period. Institutional investors own 96.02% of the company's stock.

Samsara Stock Up 4.0%

NYSE:IOT traded up $1.29 during midday trading on Friday, hitting $33.51. The company had a trading volume of 3,775,054 shares, compared to its average volume of 4,670,207. The company has a market capitalization of $19.08 billion, a PE ratio of -152.32 and a beta of 1.62. Samsara Inc. has a 52-week low of $31.40 and a 52-week high of $61.90. The stock's fifty day moving average price is $38.09 and its 200-day moving average price is $42.01.

Samsara (NYSE:IOT - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (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 analyst estimates of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The company's revenue was up 30.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share. As a group, research analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IOT. Wall Street Zen cut shares of Samsara from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. BMO Capital Markets raised their target price on 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 lifted their price target on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Piper Sandler reaffirmed an "overweight" rating and set a $47.00 price objective (down from $53.00) on shares of Samsara in a report on Thursday, August 7th. Finally, Evercore ISI set a $45.00 price target on Samsara in a report on Wednesday, June 25th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $50.21.

Insiders Place Their Bets

In related news, insider John Bicket sold 37,632 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $36.15, for a total transaction of $1,360,396.80. Following the transaction, the insider directly owned 1,258,347 shares in the company, valued at $45,489,244.05. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Eltoukhy sold 10,083 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $38.77, for a total transaction of $390,917.91. Following the completion of the transaction, the insider owned 358,720 shares in the company, valued at $13,907,574.40. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,926,739 shares of company stock valued at $119,969,024 over the last quarter. 46.49% of the stock is owned by corporate insiders.

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.