a16z Perennial Management L.P. Makes New Investment in Samsara Inc. (NYSE:IOT)

a16z Perennial Management L.P. purchased a new stake in Samsara Inc. (NYSE:IOT) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,566 shares of the company’s stock, valued at approximately $86,000. Samsara makes up approximately 0.0% of a16z Perennial Management L.P.’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in IOT. Fred Alger Management LLC acquired a new position in shares of Samsara in the third quarter valued at approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after acquiring an additional 381 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Samsara during the 4th quarter worth $162,000. Belpointe Asset Management LLC purchased a new stake in shares of Samsara in the third quarter valued at $202,000. Finally, Stonegate Investment Group LLC purchased a new stake in shares of Samsara in the fourth quarter valued at $229,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,019,921 shares of the company’s stock, valued at $33,820,580.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction dated Tuesday, April 23rd. The stock was 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 directly owns 1,019,921 shares of the company’s stock, valued at $33,820,580.36. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 10,422 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $30.78, for a total value of $320,789.16. Following the completion of the transaction, the insider now owns 535,149 shares in the company, valued at approximately $16,471,886.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,513,054 shares of company stock valued at $52,452,782. Corporate insiders own 66.14% of the company’s stock.

Samsara Stock Up 0.9 %

Shares of Samsara stock traded up $0.32 during trading hours on Wednesday, hitting $35.25. The company’s stock had a trading volume of 3,333,838 shares, compared to its average volume of 3,644,365. The company has a market capitalization of $19.41 billion, a PE ratio of -66.51 and a beta of 1.56. The business has a fifty day moving average of $34.85 and a 200 day moving average of $31.77. Samsara Inc. has a 1-year low of $16.63 and a 1-year high of $40.54.

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 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. On average, sell-side analysts anticipate that Samsara Inc. will post -0.4 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.