Samsara Inc. (NYSE:IOT) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,283 shares of the company's stock after purchasing an additional 16,528 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.07% of Samsara worth $18,107,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Resources Management Corp CT ADV raised its position in shares of 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 purchasing an additional 490 shares during the last quarter. UMB Bank n.a. raised its holdings in Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock valued at $49,000 after acquiring an additional 418 shares during the last quarter. National Bank of Canada FI acquired a new position in Samsara in the 2nd quarter valued at $38,000. Nemes Rush Group LLC acquired a new position in Samsara in the 2nd quarter valued at $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised 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 acquiring an additional 1,000 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the sale, the chief accounting officer now owns 319,667 shares in the company, valued at $15,123,445.77. This represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,864,730 shares of company stock worth $84,375,885 over the last quarter. 60.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Piper Sandler boosted their price target on Samsara from $36.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, September 6th. TD Cowen boosted their price target on Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a report on Friday, October 11th. Truist Financial boosted their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a "hold" rating in a research note on Monday. Finally, Loop Capital boosted their price objective on shares of Samsara from $42.00 to $46.00 and gave the company a "buy" rating in a research note 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $44.87.

Samsara Stock Performance

Shares of Samsara stock traded down $0.02 during trading on Monday, reaching $49.49. The company had a trading volume of 1,923,778 shares, compared to its average volume of 3,551,275. The company has a market cap of $27.53 billion, a price-to-earnings ratio of -103.09 and a beta of 1.52. The firm's fifty day moving average is $48.68 and its 200-day moving average is $41.02. Samsara Inc. has a fifty-two week low of $25.76 and a fifty-two week high of $53.98.

Samsara (NYSE:IOT - Get Free Report) last issued 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.11) EPS. On average, research analysts anticipate 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.