Verition Fund Management LLC Increases Holdings in Samsara Inc. (NYSE:IOT)

Verition Fund Management LLC raised its position in Samsara Inc. (NYSE:IOT - Free Report) by 366.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,292 shares of the company's stock after acquiring an additional 45,018 shares during the quarter. Verition Fund Management LLC's holdings in Samsara were worth $2,757,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA boosted its position in Samsara by 19.2% during the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock valued at $75,000 after acquiring an additional 250 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company's stock worth $433,000 after buying an additional 304 shares in the last quarter. UMB Bank n.a. boosted its stake in Samsara by 69.1% during the 3rd 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 last quarter. Resources Management Corp CT ADV boosted its position in shares of Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock valued at $32,000 after buying an additional 490 shares during the last quarter. Finally, Cetera Advisors LLC raised its position in Samsara by 6.8% in the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company's stock worth $295,000 after buying an additional 497 shares during the last quarter. 89.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

IOT has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Samsara from $40.00 to $52.00 and gave the company an "equal weight" rating in a report on Wednesday, November 20th. BMO Capital Markets increased their price target on Samsara from $40.00 to $44.00 and gave the company a "market perform" rating in a report on Friday, September 6th. Evercore ISI lifted their price objective on Samsara from $40.00 to $42.00 and gave the stock an "in-line" rating in a report on Friday, September 6th. Craig Hallum started coverage on Samsara in a report on Tuesday, October 22nd. They issued a "hold" rating and a $48.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on Samsara from $49.00 to $64.00 and gave the company an "overweight" rating in a research note on Thursday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $48.71.

Insider Activity at Samsara

In related news, CEO Sanjit Biswas sold 75,594 shares of Samsara stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the completion of the transaction, the chief executive officer now directly owns 120,292 shares of the company's stock, valued at approximately $6,723,119.88. The trade was a 38.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 12,500 shares of the business's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $45.00, for a total value of $562,500.00. Following the transaction, the insider now owns 465,967 shares of the company's stock, valued at $20,968,515. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,719,376 shares of company stock valued at $83,359,468. Insiders own 60.04% of the company's stock.

Samsara Stock Performance

Shares of NYSE IOT traded down $0.66 during midday trading on Thursday, reaching $55.18. The stock had a trading volume of 2,716,809 shares, compared to its average volume of 3,503,589. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $57.51. The stock has a 50-day moving average of $50.22 and a 200-day moving average of $42.24. The company has a market capitalization of $30.70 billion, a price-to-earnings ratio of -114.71 and a beta of 1.53.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $300.20 million for the quarter, compared to analysts' expectations of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. 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 business posted ($0.11) earnings per share. As a group, analysts forecast that Samsara Inc. will post -0.34 EPS for the current fiscal year.

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.