Westfield Capital Management Co. LP Increases Stock Holdings in Samsara Inc. (NYSE:IOT)

Westfield Capital Management Co. LP increased its holdings in Samsara Inc. (NYSE:IOT) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,506,681 shares of the company’s stock after acquiring an additional 138,702 shares during the quarter. Samsara comprises approximately 0.8% of Westfield Capital Management Co. LP’s portfolio, making the stock its 26th biggest position. Westfield Capital Management Co. LP owned 0.63% of Samsara worth $168,741,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IOT. 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 valued at $32,000 after buying an additional 490 shares during the period. UMB Bank n.a. lifted its position in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after buying an additional 418 shares during the period. National Bank of Canada FI purchased a new position in Samsara during the second quarter valued at $38,000. Nemes Rush Group LLC purchased a new position in Samsara during the second quarter valued at $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted 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 buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IOT. Craig Hallum began coverage on Samsara in a research report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price objective for the company. Bank of America raised their price objective on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Evercore ISI raised their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. BMO Capital Markets raised their price target on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada raised their price target on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.67.

Insider Activity

In related news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $46.88, for a total value of $4,500,480.00. Following the transaction, the chief executive officer now directly owns 698,299 shares of the company’s stock, valued at approximately $32,736,257.12. The trade was a 12.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,826,114 shares of company stock valued at $84,024,779 in the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Samsara Stock Up 2.7 %

Samsara stock opened at $56.35 on Friday. The business has a 50-day simple moving average of $49.25 and a two-hundred day simple moving average of $41.43. The company has a market cap of $31.35 billion, a P/E ratio of -117.40 and a beta of 1.52. Samsara Inc. has a 52-week low of $26.13 and a 52-week high of $56.76.

Samsara (NYSE:IOT) last posted its quarterly earnings data 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 firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the previous year, the firm earned ($0.11) EPS. The business’s quarterly revenue was up 36.9% on a year-over-year basis. Research analysts anticipate that Samsara Inc. will post -0.34 EPS for the current fiscal year.

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.