AustralianSuper Pty Ltd Grows Stock Position in Samsara Inc. (NYSE:IOT)

AustralianSuper Pty Ltd increased its stake in Samsara Inc. (NYSE:IOT - Free Report) by 97.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,533 shares of the company's stock after acquiring an additional 13,590 shares during the quarter. AustralianSuper Pty Ltd's holdings in Samsara were worth $1,325,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IOT. Baillie Gifford & Co. lifted its position in shares of Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company's stock worth $924,499,000 after purchasing an additional 4,207,974 shares during the period. 1832 Asset Management L.P. lifted its holdings in Samsara by 102.1% in the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company's stock valued at $288,266,000 after buying an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company's stock valued at $666,584,000 after acquiring an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. grew 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 acquiring an additional 1,841,149 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Samsara during the 2nd quarter worth about $29,464,000. 89.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on IOT. Loop Capital upped their target price on Samsara from $42.00 to $46.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Evercore ISI increased their price target on Samsara from $40.00 to $42.00 and gave the stock an "in-line" rating in a report on Friday, September 6th. Piper Sandler raised their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a "neutral" rating in a research report on Friday, September 6th. TD Cowen boosted their target price on shares of Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Samsara from $37.00 to $40.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $44.20.

Samsara Stock Down 3.3 %

IOT stock traded down $1.58 during mid-day trading on Friday, reaching $46.21. 2,979,531 shares of the company traded hands, compared to its average volume of 3,605,383. The firm's 50 day moving average price is $46.62 and its 200 day moving average price is $39.60. The stock has a market cap of $25.71 billion, a price-to-earnings ratio of -96.27 and a beta of 1.52. Samsara Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $51.53.

Samsara (NYSE:IOT - Get Free Report) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) 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 analysts' expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. Samsara's quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. On average, analysts anticipate that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 42,994 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $48.55, for a total value of $2,087,358.70. Following the completion of the sale, the chief executive officer now directly owns 440,892 shares of the company's stock, valued at approximately $21,405,306.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm's stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjit Biswas sold 42,994 shares of the business's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total transaction of $2,087,358.70. Following the completion of the transaction, the chief executive officer now directly owns 440,892 shares in the company, valued at $21,405,306.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,879,269 shares of company stock valued at $83,386,415 over the last ninety days. Corporate insiders own 60.04% of the company's stock.

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.