KBC Group NV Grows Position in Samsara Inc. (NYSE:IOT)

KBC Group NV grew its stake in Samsara Inc. (NYSE:IOT - Free Report) by 103.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,243 shares of the company's stock after purchasing an additional 12,356 shares during the quarter. KBC Group NV's holdings in Samsara were worth $1,167,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of IOT. Empowered Funds LLC bought a new position in shares of Samsara during the first quarter worth approximately $218,000. Russell Investments Group Ltd. grew its holdings in shares of Samsara by 1,106.9% during the first quarter. Russell Investments Group Ltd. now owns 131,665 shares of the company's stock worth $4,976,000 after purchasing an additional 120,756 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company's stock worth $646,253,000 after buying an additional 1,841,149 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Samsara in the 1st quarter valued at $924,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Samsara in the 1st quarter valued at $94,000. 89.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Samsara from $37.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Royal Bank of Canada upped their price objective on shares of Samsara from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Friday, September 6th. BNP Paribas began coverage on Samsara in a research note on Tuesday, October 8th. They set a "neutral" rating and a $46.00 target price on the stock. Wells Fargo & Company increased their price objective on Samsara from $42.00 to $46.00 and gave the company an "overweight" rating in a report on Friday, September 6th. Finally, Piper Sandler boosted their price target on shares of Samsara from $36.00 to $40.00 and gave the company a "neutral" rating in a research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $44.87.

Samsara Stock Up 5.6 %

Shares of Samsara stock traded up $2.75 during trading on Tuesday, hitting $52.24. 3,358,176 shares of the stock traded hands, compared to its average volume of 3,550,416. The stock has a market cap of $29.06 billion, a price-to-earnings ratio of -108.83 and a beta of 1.52. The firm's fifty day moving average is $48.68 and its 200-day moving average is $41.02. Samsara Inc. has a 52 week low of $25.76 and a 52 week high of $53.98.

Samsara (NYSE:IOT - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating 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 company had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same period in the prior year, the business posted ($0.11) EPS. The firm's revenue was up 36.9% compared to the same quarter last year. On average, analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO James Andrew Munk sold 1,093 shares of the business's stock in a transaction 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 sale, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,717,614 shares of company stock worth $78,501,134. 60.04% of the stock is currently owned by company insiders.

About Samsara

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.