Westwind Capital Buys 135,994 Shares of Samsara Inc. (NYSE:IOT)

Westwind Capital lifted its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 36.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 512,461 shares of the company's stock after buying an additional 135,994 shares during the period. Samsara accounts for approximately 4.9% of Westwind Capital's holdings, making the stock its 8th biggest position. Westwind Capital owned 0.09% of Samsara worth $19,643,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GLOBALT Investments LLC GA boosted its position in shares of Samsara by 0.3% during the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock valued at $2,444,000 after purchasing an additional 182 shares in the last quarter. Tidal Investments LLC grew its position in Samsara by 4.6% in the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after acquiring an additional 281 shares in the last quarter. Continuum Advisory LLC raised its holdings in Samsara by 32.1% during the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock valued at $51,000 after buying an additional 282 shares in the last quarter. Cim LLC grew its holdings in Samsara by 1.3% during the fourth quarter. Cim LLC now owns 31,164 shares of the company's stock valued at $1,362,000 after purchasing an additional 386 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after acquiring an additional 414 shares during the period. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider John Bicket sold 170,000 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $14,492,447.64. This trade represents a 31.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 10,083 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $39.89, for a total value of $402,210.87. Following the transaction, the insider directly owned 358,720 shares in the company, valued at $14,309,340.80. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,362,323 shares of company stock valued at $98,213,010. 46.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Piper Sandler set a $53.00 price objective on shares of Samsara and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Morgan Stanley cut 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. Finally, Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $50.64.

Samsara Trading Down 1.5%

Samsara stock traded down $0.59 during mid-day trading on Tuesday, hitting $39.19. The stock had a trading volume of 5,525,336 shares, compared to its average volume of 3,970,848. The stock has a market capitalization of $22.31 billion, a PE ratio of -178.14 and a beta of 1.74. Samsara Inc. has a 12 month low of $31.40 and a 12 month high of $61.90. The stock has a 50-day simple moving average of $42.65 and a two-hundred day simple moving average of $43.95.

Samsara (NYSE:IOT - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.05. The firm had revenue of $366.88 million during the quarter, compared to analysts' expectations of $351.44 million. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The business's revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. Sell-side analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

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.