Parallel Fund Iv L.P. Ah Sells 399,026 Shares of Samsara Inc. (NYSE:IOT) Stock

Samsara Inc. (NYSE:IOT - Get Free Report) major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total value of $16,491,744.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Samsara Stock Down 4.3%

Shares of NYSE IOT traded down $1.80 during midday trading on Thursday, hitting $40.54. 9,469,263 shares of the company's stock were exchanged, compared to its average volume of 3,799,771. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The company's 50 day moving average price is $42.04 and its 200 day moving average price is $45.18. The firm has a market capitalization of $23.08 billion, a PE ratio of -86.26 and a beta of 1.74.

Samsara (NYSE:IOT - Get Free Report) last issued its earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Samsara had a negative return on equity of 19.44% and a negative net margin of 21.80%. The company had revenue of $366.88 million during the quarter, compared to the consensus estimate of $351.44 million. During the same period in the previous year, the company posted $0.03 EPS. The firm's revenue for the quarter was up 30.7% compared to the same quarter last year. On average, equities research analysts anticipate that Samsara Inc. will post -0.3 EPS for the current year.

Analyst Ratings Changes

IOT has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 price target (up previously from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Cowen reaffirmed a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Truist Financial dropped their price target on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. Wall Street Zen lowered Samsara from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Craig Hallum reissued a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GLOBALT Investments LLC GA boosted its stake 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 worth $2,444,000 after acquiring an additional 182 shares during the period. Gerber Kawasaki Wealth & Investment Management boosted its stake in Samsara by 0.5% in the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 54,000 shares of the company's stock valued at $2,070,000 after purchasing an additional 250 shares during the period. Nemes Rush Group LLC boosted its stake in Samsara by 7.8% in the 1st quarter. Nemes Rush Group LLC now owns 3,597 shares of the company's stock valued at $138,000 after purchasing an additional 260 shares during the period. Tidal Investments LLC boosted its stake in Samsara by 4.6% in the 4th quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock valued at $280,000 after purchasing an additional 281 shares during the period. Finally, Continuum Advisory LLC boosted its stake in Samsara by 32.1% in the 4th quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock valued at $51,000 after purchasing an additional 282 shares during the period. 96.02% of the stock is currently owned by institutional investors.

About Samsara

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.