Truist Financial Corp Decreases Holdings in Samsara Inc. $IOT

Key Points

• Truist Financial Corp has reduced its holdings in Samsara Inc. by 54.4% in Q2, now owning 7,894 shares worth approximately $314,000.
• Several institutional investors have increased their positions in Samsara, with notable boosts from Baillie Gifford & Co. (7.1%) and UBS (58.9%) in the first quarter.
• Samsara reported earnings of $0.12 per share in its latest quarterly results, exceeding expectations and marking a 30.4% increase in revenue year-over-year.

Truist Financial Corp trimmed its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 54.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,894 shares of the company's stock after selling 9,404 shares during the period. Truist Financial Corp's holdings in Samsara were worth $314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its holdings in Samsara by 7.1% during the first quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company's stock valued at $1,352,186,000 after purchasing an additional 2,348,101 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Samsara by 12.0% during the first quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company's stock valued at $900,581,000 after purchasing an additional 2,516,882 shares in the last quarter. Jennison Associates LLC lifted its holdings in Samsara by 1,881.8% during the first quarter. Jennison Associates LLC now owns 11,763,133 shares of the company's stock valued at $450,881,000 after purchasing an additional 11,169,571 shares in the last quarter. Invesco Ltd. lifted its holdings in Samsara by 20.1% during the first quarter. Invesco Ltd. now owns 4,174,153 shares of the company's stock valued at $159,995,000 after purchasing an additional 697,208 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Samsara by 58.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,823,484 shares of the company's stock worth $108,224,000 after buying an additional 1,047,068 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Samsara Price Performance

Shares of IOT opened at $36.55 on Friday. Samsara Inc. has a 1-year low of $31.40 and a 1-year high of $61.90. The stock has a market cap of $20.97 billion, a PE ratio of -228.43 and a beta of 1.60. The firm has a 50-day simple moving average of $37.04 and a two-hundred day simple moving average of $39.11.

Samsara (NYSE:IOT - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.05. Samsara had a negative net margin of 6.16% and a negative return on equity of 7.53%. The business had revenue of $391.48 million during the quarter, compared to analysts' expectations of $372.22 million. During the same period last year, the business earned $0.05 earnings per share. The business's revenue for the quarter was up 30.4% on a year-over-year basis. Samsara has set its FY 2026 guidance at 0.450-0.470 EPS. Q3 2026 guidance at 0.110-0.12 EPS. As a group, sell-side analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IOT. Morgan Stanley raised their price target on shares of Samsara from $50.00 to $53.00 and gave the stock an "equal weight" rating in a research note on Monday, September 8th. Piper Sandler raised their price target on shares of Samsara from $47.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Royal Bank Of Canada raised their price target on shares of Samsara from $44.00 to $46.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Evercore ISI set a $50.00 price target on shares of Samsara and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Samsara in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $49.55.

Insider Buying and Selling at Samsara

In related news, insider Adam Eltoukhy sold 4,767 shares of Samsara stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $39.40, for a total value of $187,819.80. Following the completion of the transaction, the insider owned 302,698 shares in the company, valued at approximately $11,926,301.20. The trade was a 1.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sanjit Biswas sold 160,000 shares of Samsara stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $38.36, for a total transaction of $6,137,600.00. Following the completion of the transaction, the insider owned 36,000 shares of the company's stock, valued at $1,380,960. This trade represents a 81.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,734,679 shares of company stock valued at $140,267,375. 46.49% of the stock is currently owned by company insiders.

Samsara 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.

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