Vanguard Group Inc. Increases Stock Holdings in Samsara Inc. (NYSE:IOT)

Key Points

• Vanguard Group Inc. increased its stake in Samsara Inc. by 12.0% during the 1st quarter, owning approximately 4.13% of the company, valued at $900.58 million.
• Several institutional investors, including NewEdge Advisors LLC and Keystone Financial Group Inc., have significantly boosted their positions in Samsara, indicating strong institutional confidence in the company.
• Samsara reported a $0.11 EPS for the latest quarter, outpacing analysts' expectations and marking a 30.7% year-over-year revenue increase, with quarterly revenue reaching $366.88 million.

Vanguard Group Inc. lifted its stake in Samsara Inc. (NYSE:IOT - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,495,471 shares of the company's stock after buying an additional 2,516,882 shares during the period. Vanguard Group Inc. owned about 4.13% of Samsara worth $900,581,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IOT. NewEdge Advisors LLC lifted its stake in shares of 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. Keystone Financial Group Inc. increased its stake in Samsara by 300.0% in the first quarter. Keystone Financial Group Inc. now owns 600 shares of the company's stock valued at $25,000 after acquiring an additional 450 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Samsara in the first quarter valued at about $31,000. Fourth Dimension Wealth LLC bought a new stake in Samsara in the fourth quarter valued at about $38,000. Finally, CWM LLC increased its stake in 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 acquiring an additional 836 shares during the period. Institutional investors own 96.02% of the company's stock.

Samsara Price Performance

Shares of NYSE IOT traded up $1.29 during trading on Friday, hitting $33.51. The stock had a trading volume of 2,126,930 shares, compared to its average volume of 4,685,841. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90. The company has a market capitalization of $19.08 billion, a PE ratio of -152.30 and a beta of 1.62. The firm has a fifty day moving average of $38.33 and a two-hundred day moving average of $42.14.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The firm's revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 earnings per share. On average, equities 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 research firms have commented on IOT. Piper Sandler restated an "overweight" rating and issued a $47.00 price target (down from $53.00) on shares of Samsara in a research report on Thursday, August 7th. Wells Fargo & Company upped their target price on shares of Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Evercore ISI set a $45.00 target price on shares of Samsara in a research report on Wednesday, June 25th. Wall Street Zen lowered shares of Samsara from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets increased their price objective 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 issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $50.21.

Insider Buying and Selling at Samsara

In other Samsara news, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total transaction of $16,491,744.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Marc L. Andreessen sold 399,026 shares of the stock in a transaction dated Tuesday, June 10th. The stock was 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. Insiders have sold 2,926,739 shares of company stock worth $119,969,024 over the last ninety days. Company insiders own 46.49% of the company's stock.

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.