General Catalyst Group Management LLC Lowers Position in Samsara Inc. (NYSE:IOT)

General Catalyst Group Management LLC lessened its holdings in shares of Samsara Inc. (NYSE:IOT) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,297,056 shares of the company’s stock after selling 3,000,000 shares during the period. Samsara comprises 78.3% of General Catalyst Group Management LLC’s holdings, making the stock its largest holding. General Catalyst Group Management LLC owned 4.19% of Samsara worth $1,121,054,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Resources Management Corp CT ADV lifted its position in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the period. UMB Bank n.a. lifted its holdings in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after acquiring an additional 418 shares during the period. National Bank of Canada FI acquired a new stake in shares of Samsara during the 2nd quarter worth approximately $38,000. Nemes Rush Group LLC bought a new position in Samsara in the second quarter valued at approximately $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. 89.39% of the stock is owned by institutional investors.

Samsara Price Performance

Shares of IOT opened at $51.61 on Thursday. The business has a 50-day moving average of $48.26 and a 200-day moving average of $40.68. The company has a market capitalization of $28.71 billion, a price-to-earnings ratio of -110.08 and a beta of 1.52. Samsara Inc. has a 1 year low of $25.76 and a 1 year high of $53.98.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the previous year, the company earned ($0.11) EPS. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Samsara Inc. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other Samsara news, insider Adam Eltoukhy sold 12,500 shares of Samsara stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $45.00, for a total value of $562,500.00. Following the completion of the sale, the insider now directly owns 465,967 shares in the company, valued at approximately $20,968,515. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Samsara news, insider Adam Eltoukhy sold 12,500 shares of Samsara stock in a transaction on Friday, September 6th. The shares were sold at an average price of $45.00, for a total value of $562,500.00. Following the completion of the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at approximately $20,968,515. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,864,730 shares of company stock worth $84,375,885. Company insiders own 60.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IOT shares. Bank of America boosted their price target on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Evercore ISI increased their target price on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. BMO Capital Markets lifted their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, TD Cowen boosted their target price on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.20.

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.