103,000 Shares in Samsara Inc. (NYSE:IOT) Acquired by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC bought a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,000 shares of the company's stock, valued at approximately $4,956,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Resources Management Corp CT ADV raised its position in Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock worth $32,000 after buying an additional 490 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Samsara during the second quarter worth about $38,000. Nemes Rush Group LLC purchased a new position in Samsara during the second quarter worth about $45,000. UMB Bank n.a. lifted its position in Samsara by 69.1% in the third quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock valued at $49,000 after purchasing an additional 418 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company's stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company's stock.

Samsara Price Performance

IOT stock traded down $0.58 during midday trading on Friday, reaching $47.69. 1,689,207 shares of the company's stock traded hands, compared to its average volume of 3,647,624. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $51.53. The business has a 50-day moving average price of $45.76 and a two-hundred day moving average price of $38.96. The company has a market capitalization of $26.27 billion, a P/E ratio of -96.22 and a beta of 1.52.

Samsara (NYSE:IOT - Get Free Report) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million during 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 for the quarter was up 36.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. As a group, research analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IOT. Bank of America lifted their price target on Samsara from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, September 6th. BMO Capital Markets increased their price target on shares of Samsara from $40.00 to $44.00 and gave the company a "market perform" rating in a report on Friday, September 6th. Wells Fargo & Company upped their target price on shares of Samsara from $42.00 to $46.00 and gave the stock an "overweight" rating in a research report on Friday, September 6th. Morgan Stanley upped their price target on Samsara from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, September 6th. Finally, Evercore ISI boosted their target price on Samsara from $40.00 to $42.00 and gave the stock an "in-line" rating in a research report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $43.31.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 65,605 shares of the business's stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total value of $2,415,576.10. Following the transaction, the chief executive officer now owns 1,112,694 shares in the company, valued at $40,969,393.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 65,605 shares of Samsara stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the sale, the chief executive officer now directly owns 1,112,694 shares in the company, valued at $40,969,393.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were 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. In the last three months, insiders sold 1,945,061 shares of company stock valued at $84,802,692. Corporate insiders own 60.04% of the company's stock.

Samsara 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.