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

Westwind Capital raised its stake in Samsara Inc. (NYSE:IOT - Free Report) by 36.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 512,461 shares of the company's stock after purchasing an additional 135,994 shares during the period. Samsara accounts for 4.9% of Westwind Capital's holdings, making the stock its 8th biggest holding. Westwind Capital owned 0.09% of Samsara worth $19,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in shares of 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 last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Samsara during the 4th quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Samsara in the 1st quarter worth approximately $31,000. IFP Advisors Inc boosted its holdings in Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after buying an additional 598 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new position in Samsara in the 4th quarter worth approximately $38,000. 96.02% of the stock is owned by institutional investors.

Insider Activity

In other Samsara news, insider Dominic Phillips sold 9,059 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.23, for a total transaction of $373,502.57. Following the completion of the sale, the insider now directly owns 887,493 shares of the company's stock, valued at approximately $36,591,336.39. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the company's 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. Insiders sold 2,373,397 shares of company stock valued at $98,622,593 over the last three months. Insiders own 46.49% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on IOT. BMO Capital Markets raised their price target on shares of Samsara from $48.00 to $54.00 and gave the company an "outperform" rating in a report on Monday, June 2nd. Wells Fargo & Company lifted 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. Wall Street Zen cut shares of Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Piper Sandler set a $53.00 price objective on shares of Samsara and gave the company an "overweight" rating in a research report on Wednesday. Finally, Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.20.

Samsara Stock Performance

Shares of NYSE IOT opened at $39.65 on Friday. The firm's 50 day moving average price is $42.56 and its 200-day moving average price is $44.02. The company has a market cap of $22.57 billion, a PE ratio of -180.23 and a beta of 1.74. Samsara Inc. has a 52-week low of $31.40 and a 52-week high of $61.90.

Samsara (NYSE:IOT - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $366.88 million for the quarter, compared to the consensus estimate 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 was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. On average, analysts forecast 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.

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