State of New Jersey Common Pension Fund D Sells 27,212 Shares of Samsara Inc. (NYSE:IOT)

State of New Jersey Common Pension Fund D lowered its position in Samsara Inc. (NYSE:IOT - Free Report) by 26.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,173 shares of the company's stock after selling 27,212 shares during the period. State of New Jersey Common Pension Fund D's holdings in Samsara were worth $2,567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IOT. Quarry LP acquired a new position in shares of Samsara during the 4th quarter valued at about $37,000. National Bank of Canada FI acquired a new position in Samsara during the second quarter valued at approximately $38,000. Tradition Wealth Management LLC bought a new position in shares of Samsara in the fourth quarter valued at approximately $46,000. Ulland Investment Advisors LLC lifted its stake in shares of Samsara by 33.6% in the first quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company's stock worth $75,000 after buying an additional 500 shares during the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Samsara during the 1st quarter worth $94,000. Institutional investors own 89.39% of the company's stock.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the business's stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total value of $2,831,040.00. Following the transaction, the chief executive officer now directly owns 1,466,299 shares in the company, valued at $43,241,157.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Lara Caimi sold 7,508 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the sale, the insider now directly owns 1,093,535 shares in the company, valued at $50,761,894.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the company's stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the transaction, the chief executive officer now owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. Insiders sold 2,047,254 shares of company stock worth $82,255,010 in the last quarter. 60.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI lifted 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. Loop Capital boosted their price objective on Samsara from $42.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a research note on Friday, September 6th. Piper Sandler lifted their price target on Samsara from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. Finally, BMO Capital Markets increased their price objective on Samsara from $40.00 to $44.00 and gave the company a "market perform" rating in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.07.

Samsara Price Performance

Shares of Samsara stock traded up $0.04 during trading on Thursday, hitting $47.59. 4,473,086 shares of the company's stock traded hands, compared to its average volume of 3,792,325. The company has a market cap of $26.21 billion, a PE ratio of -95.20 and a beta of 1.50. The firm's fifty day moving average price is $39.93 and its 200 day moving average price is $36.80. Samsara Inc. has a twelve month low of $21.48 and a twelve month high of $48.98.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The company's revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) EPS. As a group, equities research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current 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.