Avitas Wealth Management LLC Invests $245,000 in Samsara Inc. (NYSE:IOT)

by · The Markets Daily

Avitas Wealth Management LLC acquired a new stake in shares of Samsara Inc. (NYSE:IOT – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,082 shares of the company’s stock, valued at approximately $245,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IOT. abrdn plc acquired a new position in shares of Samsara during the third quarter valued at $207,000. Consolidated Portfolio Review Corp bought a new stake in Samsara in the 3rd quarter valued at about $1,291,000. Zweig DiMenna Associates LLC acquired a new position in Samsara during the 3rd quarter valued at about $4,956,000. Assenagon Asset Management S.A. grew its position in Samsara by 3.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after purchasing an additional 304 shares during the last quarter. Finally, Grassi Investment Management acquired a new stake in shares of Samsara in the third quarter valued at approximately $207,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Insider Activity

In other Samsara news, CEO Sanjit Biswas sold 81,515 shares of Samsara stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the transaction, the chief executive officer now directly owns 96,000 shares in the company, valued at approximately $3,555,840. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sanjit Biswas sold 81,515 shares of Samsara stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the transaction, the chief executive officer now owns 96,000 shares in the company, valued at approximately $3,555,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lara Caimi sold 7,508 shares of the stock in a transaction dated 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 approximately $50,761,894.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,793,333 shares of company stock worth $79,214,223 over the last 90 days. 60.04% of the stock is owned by company insiders.

Samsara Stock Up 1.6 %

IOT opened at $49.35 on Thursday. The firm has a market cap of $27.46 billion, a PE ratio of -102.81 and a beta of 1.52. The business has a fifty day simple moving average of $46.39 and a 200-day simple moving average of $39.44. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $51.53.

Samsara (NYSE:IOT – Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same quarter last year, the company posted ($0.11) EPS. Samsara’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, equities research analysts anticipate that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on IOT. Loop Capital boosted their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Royal Bank of Canada increased their price target on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Morgan Stanley upped their price objective on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Truist Financial raised their target price on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Finally, Piper Sandler upped their price target on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.20.

View Our Latest Analysis on IOT

Samsara Company Profile

(Free Report)

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.

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