Quest Partners LLC Reduces Stock Position in Samsara Inc. (NYSE:IOT)

Quest Partners LLC decreased its holdings in Samsara Inc. (NYSE:IOT) by 38.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,486 shares of the company’s stock after selling 1,544 shares during the period. Quest Partners LLC’s holdings in Samsara were worth $120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IOT. Swiss National Bank grew its holdings in shares of Samsara by 3.1% in the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after purchasing an additional 18,400 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Samsara by 2,787.2% during the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after acquiring an additional 10,452 shares during the period. Bank of Montreal Can bought a new stake in shares of Samsara during the second quarter valued at approximately $537,000. Magnetar Financial LLC purchased a new stake in shares of Samsara in the second quarter valued at approximately $1,240,000. Finally, RFG Advisory LLC grew its stake in Samsara by 41.5% in the second quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock worth $421,000 after purchasing an additional 3,662 shares in the last quarter. 89.39% of the stock is currently owned by institutional investors.

Samsara Trading Down 3.0 %

NYSE:IOT opened at $53.74 on Friday. The firm has a fifty day simple moving average of $49.83 and a 200-day simple moving average of $41.84. Samsara Inc. has a 12 month low of $26.13 and a 12 month high of $57.51. The company has a market capitalization of $29.90 billion, a P/E ratio of -111.96 and a beta of 1.52.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS 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 period in the prior year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. Equities analysts forecast that Samsara Inc. will post -0.34 EPS for the current year.

Insider Activity

In related news, CEO Sanjit Biswas sold 93,107 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,716,831.44. Following the completion of the sale, the chief executive officer now owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. This trade represents a 54.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lara Caimi sold 7,508 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the sale, the insider now directly owns 1,093,535 shares of the company’s stock, valued at $50,761,894.70. This trade represents a 0.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,809,695 shares of company stock worth $85,445,322 in the last quarter. Corporate insiders own 60.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IOT shares. Wells Fargo & Company lifted their target price on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Royal Bank of Canada increased 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. Truist Financial boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a report on Monday, November 18th. Morgan Stanley increased their price objective on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Bank of America boosted their price objective on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Samsara presently has a consensus rating of “Hold” and a consensus price target of $45.67.

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.