Readystate Asset Management LP Buys Shares of 29,910 Samsara Inc. (NYSE:IOT)

Readystate Asset Management LP bought a new stake in Samsara Inc. (NYSE:IOT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 29,910 shares of the company’s stock, valued at approximately $998,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. grew its holdings in Samsara by 5.4% in the 3rd quarter. Baillie Gifford & Co. now owns 22,586,188 shares of the company’s stock valued at $569,398,000 after buying an additional 1,166,989 shares during the last quarter. Vanguard Group Inc. grew its holdings in Samsara by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 15,260,007 shares of the company’s stock valued at $509,379,000 after buying an additional 917,389 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Samsara by 19.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,841,815 shares of the company’s stock valued at $495,421,000 after buying an additional 2,425,103 shares during the last quarter. Morgan Stanley grew its holdings in Samsara by 4.6% in the 4th quarter. Morgan Stanley now owns 7,326,909 shares of the company’s stock valued at $91,073,000 after buying an additional 320,468 shares during the last quarter. Finally, FMR LLC grew its holdings in Samsara by 11.8% in the 3rd quarter. FMR LLC now owns 6,959,343 shares of the company’s stock valued at $175,445,000 after buying an additional 731,963 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on IOT shares. Loop Capital started coverage on Samsara in a report on Thursday. They set a “buy” rating and a $42.00 price objective on the stock. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Samsara has a consensus rating of “Hold” and a consensus target price of $32.60.

Insider Buying and Selling at Samsara

In other Samsara news, CAO James Andrew Munk sold 9,714 shares of Samsara stock in a transaction on Friday, March 15th. The stock was sold at an average price of $35.46, for a total value of $344,458.44. Following the completion of the transaction, the chief accounting officer now owns 307,185 shares in the company, valued at approximately $10,892,780.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO James Andrew Munk sold 9,714 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $35.46, for a total transaction of $344,458.44. Following the completion of the sale, the chief accounting officer now owns 307,185 shares in the company, valued at $10,892,780.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $32.50, for a total value of $3,120,000.00. Following the sale, the chief executive officer now owns 754,335 shares of the company’s stock, valued at approximately $24,515,887.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,697,460 shares of company stock worth $58,277,505. 66.14% of the stock is currently owned by insiders.

Samsara Price Performance

Shares of Samsara stock traded up $0.05 during midday trading on Thursday, hitting $31.02. 3,380,095 shares of the company were exchanged, compared to its average volume of 3,681,924. The firm has a market cap of $17.08 billion, a P/E ratio of -58.53 and a beta of 1.56. Samsara Inc. has a 52 week low of $16.63 and a 52 week high of $40.54. The firm has a 50 day simple moving average of $34.84 and a 200-day simple moving average of $31.15.

Samsara (NYSE:IOT) last issued its quarterly earnings data 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 firm had revenue of $276.27 million during the quarter, compared to the consensus estimate of $258.56 million. Equities research analysts expect that Samsara Inc. will post -0.4 earnings per share for the current 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.