Samsara Inc. (NYSE:IOT) Position Boosted by Rakuten Securities Inc.

Rakuten Securities Inc. lifted its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 100.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 46,903 shares of the company's stock after purchasing an additional 23,495 shares during the period. Samsara comprises 1.0% of Rakuten Securities Inc.'s holdings, making the stock its 19th biggest position. Rakuten Securities Inc.'s holdings in Samsara were worth $2,257,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC grew its position in Samsara by 2,787.2% during the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company's stock valued at $521,000 after buying an additional 10,452 shares during the period. Bank of Montreal Can acquired a new position in shares of Samsara during the 2nd quarter worth approximately $537,000. Magnetar Financial LLC purchased a new position in Samsara during the second quarter worth approximately $1,240,000. Swiss National Bank acquired a new position in Samsara during the first quarter worth $19,477,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Samsara in the 1st quarter valued at $647,000. Institutional investors own 89.39% of the company's stock.

Insiders Place Their Bets

In related news, CEO Sanjit Biswas sold 78,295 shares of Samsara stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.50, for a total transaction of $3,170,947.50. Following the completion of the transaction, the chief executive officer now directly owns 908,004 shares of the company's stock, valued at approximately $36,774,162. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Samsara news, CEO Sanjit Biswas sold 78,295 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.50, for a total transaction of $3,170,947.50. Following the sale, the chief executive officer now owns 908,004 shares in the company, valued at approximately $36,774,162. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Bicket sold 78,128 shares of the company's stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.51, for a total value of $3,164,965.28. Following the completion of the sale, the insider now owns 1,273,912 shares in the company, valued at $51,606,175.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,864,730 shares of company stock worth $84,375,885. Corporate insiders own 60.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IOT shares. Craig Hallum started coverage on shares of Samsara in a research report on Tuesday, October 22nd. They set a "hold" rating and a $48.00 price objective for the company. Wells Fargo & Company raised their target price on Samsara from $42.00 to $46.00 and gave the stock an "overweight" rating in a research note on Friday, September 6th. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a report on Friday. Truist Financial upped their target price on shares of Samsara from $35.00 to $40.00 and gave the company a "hold" rating in a research report on Friday, September 6th. Finally, Bank of America lifted their price target on shares of Samsara from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Samsara currently has an average rating of "Hold" and an average target price of $44.20.

Samsara Stock Up 0.4 %

IOT traded up $0.22 on Tuesday, reaching $52.74. The company's stock had a trading volume of 1,364,462 shares, compared to its average volume of 3,565,079. Samsara Inc. has a fifty-two week low of $23.35 and a fifty-two week high of $53.68. The stock has a 50 day moving average of $47.71 and a two-hundred day moving average of $40.48. The company has a market capitalization of $29.34 billion, a price-to-earnings ratio of -110.44 and a beta of 1.52.

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 analysts' consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million during 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%. The business's revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) EPS. As a group, analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current fiscal 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.