Charles Schwab Investment Management Inc. Boosts Stake in Samsara Inc. (NYSE:IOT)

Charles Schwab Investment Management Inc. boosted its stake in shares of Samsara Inc. (NYSE:IOT) by 55.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,829,033 shares of the company’s stock after purchasing an additional 650,982 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Samsara were worth $88,013,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. lifted its holdings in Samsara by 9.4% during the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after purchasing an additional 280 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in Samsara in the 1st quarter worth $749,000. California State Teachers Retirement System bought a new stake in Samsara during the first quarter valued at about $8,009,000. Plato Investment Management Ltd purchased a new position in shares of Samsara in the first quarter valued at about $274,000. Finally, Cetera Advisors LLC boosted its stake in shares of Samsara by 6.8% in the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after acquiring an additional 497 shares during the period. Institutional investors own 89.39% of the company’s stock.

Samsara Stock Performance

NYSE IOT opened at $53.73 on Thursday. The company has a market cap of $29.89 billion, a P/E ratio of -111.94 and a beta of 1.52. The business’s 50 day moving average price is $49.70 and its 200-day moving average price is $41.76. Samsara Inc. has a fifty-two week low of $26.13 and a fifty-two week high of $57.51.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, equities analysts predict that Samsara Inc. will post -0.34 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on IOT. Morgan Stanley lifted their target price on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Royal Bank of Canada boosted their target price on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Craig Hallum assumed coverage on shares of Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price for the company. Truist Financial boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Finally, StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Samsara has an average rating of “Hold” and a consensus target price of $45.67.

Insiders Place Their Bets

In related news, CEO Sanjit Biswas sold 93,107 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,716,831.44. Following the transaction, the chief executive officer now owns 76,800 shares of the company’s stock, valued at $3,065,856. This trade represents a 54.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. This trade represents a 0.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,809,695 shares of company stock valued at $85,445,322 over the last 90 days. Insiders own 60.04% of the company’s stock.

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.