Samsara (NYSE:IOT) Trading 6.8% Higher

Shares of Samsara Inc. (NYSE:IOT) were up 6.8% during trading on Tuesday . The stock traded as high as $33.58 and last traded at $33.48. Approximately 1,890,320 shares were traded during trading, a decline of 48% from the average daily volume of 3,630,036 shares. The stock had previously closed at $31.35.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IOT shares. Loop Capital started coverage on shares of Samsara in a research report on Thursday, April 18th. They set a “buy” rating and a $42.00 price objective on the stock. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Samsara Stock Performance

The company has a market capitalization of $18.93 billion, a P/E ratio of -64.89 and a beta of 1.56. The business’s fifty day simple moving average is $34.68 and its 200-day simple moving average is $31.42.

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

Insider Buying and Selling at Samsara

In other news, insider Adam Eltoukhy sold 9,344 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $34.75, for a total transaction of $324,704.00. Following the sale, the insider now directly owns 431,439 shares in the company, valued at approximately $14,992,505.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Adam Eltoukhy sold 9,344 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $34.75, for a total transaction of $324,704.00. Following the sale, the insider now directly owns 431,439 shares in the company, valued at approximately $14,992,505.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $33.16, for a total transaction of $3,183,360.00. Following the sale, the chief executive officer now owns 1,019,921 shares in the company, valued at $33,820,580.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,697,460 shares of company stock worth $58,340,865. Insiders own 66.14% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several hedge funds have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. grew its holdings in Samsara by 5.4% during the 3rd quarter. Baillie Gifford & Co. now owns 22,586,188 shares of the company’s stock valued at $569,398,000 after purchasing an additional 1,166,989 shares during the last quarter. Vanguard Group Inc. grew its stake in Samsara by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 15,260,007 shares of the company’s stock worth $509,379,000 after acquiring an additional 917,389 shares in the last quarter. FMR LLC grew its stake in Samsara by 11.8% in the 3rd quarter. FMR LLC now owns 6,959,343 shares of the company’s stock worth $175,445,000 after acquiring an additional 731,963 shares in the last quarter. Principal Financial Group Inc. grew its stake in Samsara by 608.4% in the 3rd quarter. Principal Financial Group Inc. now owns 745,565 shares of the company’s stock worth $18,796,000 after acquiring an additional 640,321 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Samsara by 82.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 832,350 shares of the company’s stock worth $20,984,000 after acquiring an additional 375,017 shares in the last quarter. 89.39% 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.