Brighton Jones LLC Takes $12.32 Million Position in Samsara Inc. (NYSE:IOT)

Brighton Jones LLC acquired a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 365,576 shares of the company's stock, valued at approximately $12,320,000. Brighton Jones LLC owned approximately 0.07% of Samsara as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of IOT. Baillie Gifford & Co. lifted its stake in Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company's stock valued at $924,499,000 after acquiring an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company's stock worth $288,266,000 after purchasing an additional 3,853,400 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company's stock worth $666,584,000 after purchasing an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 1,841,149 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Samsara during the 2nd quarter worth approximately $29,464,000. Institutional investors and hedge funds own 89.39% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction dated 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 Securities & Exchange Commission, which is available through this link. In other Samsara news, CAO James Andrew Munk sold 1,093 shares of Samsara 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 transaction, the chief accounting officer now directly owns 319,667 shares of the company's stock, valued at approximately $15,123,445.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,049,232 shares of company stock worth $82,346,868. Insiders own 60.04% of the company's stock.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on Samsara from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on Samsara from $37.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, September 6th. BMO Capital Markets upped their price objective on Samsara from $40.00 to $44.00 and gave the stock a "market perform" rating in a research note on Friday, September 6th. Wolfe Research reissued an "outperform" rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Finally, Truist Financial boosted their target price on Samsara from $35.00 to $40.00 and gave the stock a "hold" rating in a report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.07.

Samsara Stock Up 3.8 %

Shares of IOT traded up $1.80 during trading hours on Friday, hitting $49.40. 3,726,380 shares of the company were exchanged, compared to its average volume of 3,791,964. The company has a market cap of $27.21 billion, a price-to-earnings ratio of -95.18 and a beta of 1.50. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $49.56. The firm's fifty day moving average is $39.93 and its 200 day moving average is $36.80.

Samsara (NYSE:IOT - Get Free Report) last issued its 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 return on equity of 20.39% and a negative net margin of 24.19%. The business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same period in the previous year, the company posted ($0.11) EPS. The firm's revenue was up 36.9% compared to the same quarter last year. Analysts anticipate that Samsara Inc. will post -0.34 EPS for the current year.

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.