TimesSquare Capital Management LLC Raises Holdings in Samsara Inc. (NYSE:IOT)

TimesSquare Capital Management LLC lifted its stake in Samsara Inc. (NYSE:IOT - Free Report) by 18.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 857,331 shares of the company's stock after purchasing an additional 136,385 shares during the quarter. TimesSquare Capital Management LLC owned about 0.15% of Samsara worth $32,861,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Teacher Retirement System of Texas purchased a new position in shares of Samsara in the 1st quarter worth approximately $1,457,000. Wells Fargo & Company MN boosted its holdings in shares of Samsara by 101.4% in the 4th quarter. Wells Fargo & Company MN now owns 129,176 shares of the company's stock worth $5,644,000 after purchasing an additional 65,028 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Samsara by 30.4% in the 4th quarter. Renaissance Technologies LLC now owns 764,300 shares of the company's stock worth $33,392,000 after purchasing an additional 178,102 shares during the period. Vanguard Group Inc. boosted its holdings in Samsara by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock valued at $916,555,000 after acquiring an additional 863,197 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in Samsara during the 1st quarter valued at $273,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Buying and Selling at Samsara

In other Samsara news, insider Adam Eltoukhy sold 10,083 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $39.89, for a total transaction of $402,210.87. Following the sale, the insider owned 358,720 shares in the company, valued at approximately $14,309,340.80. The trade was a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Bicket sold 56,113 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $39.22, for a total value of $2,200,751.86. Following the sale, the insider owned 1,532,347 shares in the company, valued at approximately $60,098,649.34. The trade was a 3.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,532,323 shares of company stock worth $105,452,742. 46.49% of the stock is owned by corporate insiders.

Samsara Stock Performance

IOT stock traded down $0.12 on Thursday, hitting $37.88. 885,762 shares of the company's stock were exchanged, compared to its average volume of 4,023,403. Samsara Inc. has a 12-month low of $31.40 and a 12-month high of $61.90. The firm has a 50 day moving average price of $42.35 and a two-hundred day moving average price of $43.41. The stock has a market cap of $21.56 billion, a P/E ratio of -172.31 and a beta of 1.63.

Samsara (NYSE:IOT - Get Free Report) last announced its earnings results 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. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The firm had revenue of $366.88 million for the quarter, compared to the consensus estimate of $351.44 million. During the same period in the previous year, the business earned $0.03 EPS. The firm's revenue for the quarter was up 30.7% on a year-over-year basis. Sell-side analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Wall Street Zen cut Samsara from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley dropped their price objective on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Wells Fargo & Company lifted their target price on Samsara from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, Piper Sandler set a $53.00 target price on Samsara and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $50.64.

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.