Samsara Inc. (NYSE:IOT) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC lessened its holdings in Samsara Inc. (NYSE:IOT) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,670 shares of the company’s stock after selling 851 shares during the quarter. Janney Capital Management LLC’s holdings in Samsara were worth $332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of IOT. Institute for Wealth Management LLC. acquired a new stake in shares of Samsara during the 1st quarter worth approximately $293,000. Cornerstone Wealth Management LLC grew its stake in shares of Samsara by 14.9% during the 1st quarter. Cornerstone Wealth Management LLC now owns 6,277 shares of the company’s stock worth $241,000 after purchasing an additional 815 shares during the period. Rakuten Securities Inc. grew its stake in shares of Samsara by 1,434.0% during the 1st quarter. Rakuten Securities Inc. now owns 59,088 shares of the company’s stock worth $2,265,000 after purchasing an additional 55,236 shares during the period. Hanson & Doremus Investment Management grew its stake in shares of Samsara by 4.7% during the 1st quarter. Hanson & Doremus Investment Management now owns 78,937 shares of the company’s stock worth $3,026,000 after purchasing an additional 3,527 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Samsara by 47.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 524,411 shares of the company’s stock worth $20,101,000 after purchasing an additional 168,064 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Insider Buying and Selling at Samsara

In other Samsara news, Director Marc L. Andreessen sold 399,026 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total value of $16,491,744.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dominic Phillips sold 21,157 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total value of $811,794.09. Following the completion of the transaction, the insider now owns 638,642 shares in the company, valued at $24,504,693.54. The trade was a 3.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,137,417 shares of company stock worth $89,601,167. Corporate insiders own 46.49% of the company’s stock.

Samsara Stock Performance

Shares of IOT stock opened at $38.68 on Friday. The stock’s fifty day moving average is $42.38 and its two-hundred day moving average is $44.55. The firm has a market capitalization of $22.02 billion, a P/E ratio of -175.80 and a beta of 1.74. Samsara Inc. has a fifty-two week low of $28.69 and a fifty-two week high of $61.90.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The company had revenue of $366.88 million for the quarter, compared to analyst estimates of $351.44 million. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The firm’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 EPS. On average, equities analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on IOT. Cowen reaffirmed a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Truist Financial dropped their price objective on shares of Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective (up previously from $44.00) on shares of Samsara in a research note on Wednesday, May 14th. Raymond James Financial assumed coverage on shares of Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating on the stock. Finally, Craig Hallum reissued a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.00.

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.