Caisse DE Depot ET Placement DU Quebec Increases Position in Samsara Inc. (NYSE:IOT)

Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Samsara Inc. (NYSE:IOT) by 34.2% in the third quarter, HoldingsChannel.com reports. The fund owned 34,480 shares of the company’s stock after acquiring an additional 8,780 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Samsara were worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Fred Alger Management LLC raised its stake in shares of Samsara by 314.2% during the 3rd quarter. Fred Alger Management LLC now owns 14,389 shares of the company’s stock worth $692,000 after purchasing an additional 10,915 shares during the period. Verition Fund Management LLC raised its position in Samsara by 366.8% in the third quarter. Verition Fund Management LLC now owns 57,292 shares of the company’s stock worth $2,757,000 after acquiring an additional 45,018 shares during the period. Captrust Financial Advisors boosted its stake in Samsara by 16.7% in the third quarter. Captrust Financial Advisors now owns 10,240 shares of the company’s stock valued at $493,000 after acquiring an additional 1,463 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Samsara by 13.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,419 shares of the company’s stock valued at $2,426,000 after acquiring an additional 5,921 shares during the period. Finally, FORA Capital LLC purchased a new stake in shares of Samsara during the 3rd quarter worth approximately $3,684,000. 89.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Samsara news, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 12,500 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $45.00, for a total transaction 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 $20,968,515. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,623,376 shares of company stock valued at $78,007,468 over the last 90 days. Insiders own 60.04% of the company’s stock.

Analyst Upgrades and Downgrades

IOT has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Piper Sandler lifted their price objective on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Bank of America upped their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a report on Friday, September 6th. Royal Bank of Canada boosted their price target on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Finally, TD Cowen raised their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Samsara currently has a consensus rating of “Hold” and a consensus price target of $46.43.

Samsara Stock Up 1.8 %

NYSE:IOT opened at $54.63 on Wednesday. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $57.51. The stock has a market cap of $30.39 billion, a P/E ratio of -113.81 and a beta of 1.53. The business’s 50-day moving average price is $50.09 and its two-hundred day moving average price is $42.14.

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

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.