Triumph Capital Management grew its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 97.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 26,900 shares of the company's stock after acquiring an additional 13,300 shares during the period. Triumph Capital Management's holdings in Samsara were worth $1,031,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC lifted its position in shares of Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after acquiring an additional 414 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Samsara in the first quarter valued at $31,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Samsara in the fourth quarter valued at $38,000. National Bank of Canada FI purchased a new stake in shares of Samsara in the fourth quarter valued at $45,000. Finally, CWM LLC lifted its holdings in shares of Samsara by 385.3% in the first quarter. CWM LLC now owns 1,053 shares of the company's stock valued at $40,000 after purchasing an additional 836 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.
Insider Activity
In other news, insider John Bicket sold 170,000 shares of Samsara stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $39.42, for a total value of $6,701,400.00. Following the completion of the transaction, the insider owned 367,642 shares in the company, valued at approximately $14,492,447.64. The trade was a 31.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marc L. Andreessen sold 399,026 shares of Samsara stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total transaction of $16,491,744.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,712,406 shares of company stock worth $112,812,044. 46.49% of the stock is currently owned by insiders.
Samsara Stock Up 2.2%
IOT traded up $0.85 during midday trading on Friday, reaching $38.97. 1,989,172 shares of the company's stock were exchanged, compared to its average volume of 5,487,480. The firm has a market capitalization of $22.19 billion, a price-to-earnings ratio of -177.13 and a beta of 1.63. Samsara Inc. has a one year low of $31.40 and a one year high of $61.90. The business has a 50-day simple moving average of $41.32 and a two-hundred day simple moving average of $43.14.
Samsara (NYSE:IOT - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The firm had revenue of $366.88 million during the quarter, compared to analysts' expectations of $351.44 million. During the same quarter last year, the company earned $0.03 earnings per share. The company's revenue for the quarter was up 30.7% compared to the same quarter last year. As a group, research analysts anticipate that Samsara Inc. will post -0.3 EPS for the current fiscal year.
Analyst Ratings Changes
IOT has been the topic of a number of research reports. Wall Street Zen downgraded shares of Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wells Fargo & Company upped their price target on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Morgan Stanley dropped 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 note on Wednesday, April 16th. BMO Capital Markets upped their price target on shares of Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a research note on Monday, June 2nd. Finally, Evercore ISI set a $45.00 target price on shares of Samsara in a research report on Wednesday, June 25th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $50.64.
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Samsara Company Profile
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Free Report)
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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