Oppenheimer & Co. Inc. Acquires New Position in Samsara Inc. (NYSE:IOT)

Oppenheimer & Co. Inc. purchased a new stake in Samsara Inc. (NYSE:IOT - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 24,527 shares of the company's stock, valued at approximately $1,180,000.

Several other institutional investors and hedge funds also recently modified their holdings of IOT. Advisors Asset Management Inc. raised its position in shares of Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company's stock valued at $123,000 after buying an additional 280 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company's stock worth $433,000 after purchasing an additional 304 shares during the last quarter. UMB Bank n.a. increased its position in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock worth $49,000 after purchasing an additional 418 shares during the last quarter. Resources Management Corp CT ADV increased its position in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock worth $32,000 after purchasing an additional 490 shares during the last quarter. Finally, Cetera Advisors LLC increased its position in Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company's stock worth $295,000 after purchasing an additional 497 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company's stock.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 9,307 shares of Samsara stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.55, for a total value of $461,161.85. Following the transaction, the insider now directly owns 396,784 shares of the company's stock, valued at $19,660,647.20. This trade represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Bicket sold 64,137 shares of Samsara stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,045,224.76. Following the completion of the transaction, the insider now directly owns 41,288 shares in the company, valued at approximately $1,960,354.24. This trade represents a 60.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,717,614 shares of company stock worth $78,501,134 in the last ninety days. 60.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

IOT has been the subject of several research analyst reports. StockNews.com raised shares of Samsara from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. 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. TD Cowen increased their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. BNP Paribas began coverage on shares of Samsara in a research report on Tuesday, October 8th. They issued a "neutral" rating and a $46.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective 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. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of "Hold" and an average target price of $44.87.

Samsara Trading Up 5.6 %

NYSE:IOT traded up $2.75 during mid-day trading on Tuesday, hitting $52.24. The stock had a trading volume of 3,358,176 shares, compared to its average volume of 3,550,416. The stock has a market capitalization of $29.06 billion, a price-to-earnings ratio of -108.83 and a beta of 1.52. The company has a 50 day simple moving average of $48.68 and a 200-day simple moving average of $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 released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $289.53 million. During the same period in the previous year, the firm earned ($0.11) EPS. Samsara's revenue was up 36.9% on a year-over-year basis. As a group, equities research analysts anticipate that Samsara Inc. will post -0.34 earnings per share 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.