Concentrum Wealth Management Makes New $360,000 Investment in Samsara Inc. (NYSE:IOT)

Concentrum Wealth Management bought a new position in shares of Samsara Inc. (NYSE:IOT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,775 shares of the company’s stock, valued at approximately $360,000.

A number of other institutional investors also recently bought and sold shares of IOT. SG Americas Securities LLC lifted its position in shares of Samsara by 204.4% in the third quarter. SG Americas Securities LLC now owns 23,005 shares of the company’s stock valued at $580,000 after acquiring an additional 15,447 shares in the last quarter. SVB Wealth LLC increased its stake in Samsara by 23.8% in the third quarter. SVB Wealth LLC now owns 32,221 shares of the company’s stock valued at $812,000 after purchasing an additional 6,197 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Samsara by 22.6% in the third quarter. Bank of New York Mellon Corp now owns 175,682 shares of the company’s stock valued at $4,429,000 after purchasing an additional 32,369 shares during the last quarter. Strs Ohio acquired a new position in Samsara in the third quarter valued at $2,786,000. Finally, Bellwether Advisors LLC acquired a new position in Samsara in the third quarter valued at $5,872,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Samsara

In other news, insider Adam Eltoukhy sold 9,344 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Adam Eltoukhy sold 9,344 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $34.75, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $32.92, for a total value of $3,160,320.00. Following the completion of the sale, the chief executive officer now owns 562,335 shares in the company, valued at $18,512,068.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,513,054 shares of company stock worth $52,452,782. 66.14% of the stock is currently owned by company insiders.

Samsara Trading Up 4.1 %

IOT traded up $1.44 on Thursday, reaching $36.69. The company’s stock had a trading volume of 2,108,904 shares, compared to its average volume of 3,625,433. Samsara Inc. has a 1 year low of $16.63 and a 1 year high of $40.54. The business’s 50 day moving average is $34.85 and its 200 day moving average is $31.77.

Samsara (NYSE:IOT) last released its earnings results on Thursday, March 7th. The company reported ($0.08) EPS for the quarter, hitting 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 return on equity of 22.90% and a negative net margin of 30.59%. Sell-side analysts forecast that Samsara Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on IOT. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Loop Capital began coverage on Samsara in a research note on Thursday, April 18th. They set a “buy” rating and a $42.00 price target for the company. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Samsara currently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Samsara 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.