Samsara Inc. (NYSE:IOT) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its position in Samsara Inc. (NYSE:IOT - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 611,081 shares of the company's stock after selling 22,520 shares during the period. TimesSquare Capital Management LLC owned approximately 0.11% of Samsara worth $20,398,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IOT. Fred Alger Management LLC purchased a new stake in shares of Samsara during the 3rd quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Samsara by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company's stock worth $53,000 after buying an additional 381 shares during the last quarter. a16z Perennial Management L.P. acquired a new position in shares of Samsara during the 4th quarter worth $86,000. International Assets Investment Management LLC acquired a new position in shares of Samsara during the 4th quarter worth $162,000. Finally, Belpointe Asset Management LLC acquired a new position in Samsara in the 3rd quarter valued at about $202,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Samsara

In related news, CEO Sanjit Biswas sold 71,266 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $38.17, for a total value of $2,720,223.22. Following the completion of the transaction, the chief executive officer now owns 154,680 shares in the company, valued at approximately $5,904,135.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John Bicket sold 91,713 shares of the firm's stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $35.61, for a total transaction of $3,265,899.93. Following the transaction, the insider now owns 2,232,749 shares in the company, valued at approximately $79,508,191.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 71,266 shares of the firm's stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $38.17, for a total transaction of $2,720,223.22. Following the transaction, the chief executive officer now owns 154,680 shares in the company, valued at approximately $5,904,135.60. The disclosure for this sale can be found here. Insiders sold 1,681,107 shares of company stock worth $59,465,592 in the last quarter. 66.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on IOT shares. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a report on Tuesday, March 5th. Loop Capital started coverage on Samsara in a report on Thursday, April 18th. They set a "buy" rating and a $42.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.60.

Samsara Price Performance

NYSE IOT traded up $0.10 on Friday, reaching $39.85. The company had a trading volume of 2,777,262 shares, compared to its average volume of 3,562,925. The firm has a market capitalization of $21.94 billion, a PE ratio of -75.19 and a beta of 1.58. The firm has a 50-day moving average of $35.44 and a 200-day moving average of $32.32. Samsara Inc. has a 1 year low of $18.24 and a 1 year high of $40.69.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. The business had revenue of $276.27 million for the quarter, compared to analyst estimates of $258.56 million. As a group, sell-side analysts expect that Samsara Inc. will post -0.4 EPS for the current fiscal year.

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.