Samsara Inc. (NYSE:IOT) Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 79.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,166 shares of the company's stock after selling 34,589 shares during the period. Thrivent Financial for Lutherans' holdings in Samsara were worth $441,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IOT. Resources Management Corp CT ADV lifted its position in 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 acquiring an additional 490 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Samsara during the second quarter valued at approximately $38,000. Nemes Rush Group LLC acquired a new position in shares of Samsara during the second quarter worth $45,000. UMB Bank n.a. boosted its stake in shares of Samsara by 69.1% in the third 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 period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company's stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. 89.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a research report on Friday. BNP Paribas started coverage on Samsara in a research note on Tuesday, October 8th. They set a "neutral" rating and a $46.00 price objective for the company. Piper Sandler lifted their price objective on Samsara from $40.00 to $50.00 and gave the stock a "neutral" rating in a report on Friday. Morgan Stanley raised their price target on shares of Samsara from $40.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 20th. Finally, Loop Capital upped their price target on shares of Samsara from $46.00 to $63.00 and gave the company a "buy" rating in a report on Thursday. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Samsara currently has a consensus rating of "Hold" and an average price target of $51.29.

Samsara Trading Down 5.9 %

IOT traded down $3.24 on Friday, hitting $51.89. 7,299,620 shares of the company's stock were exchanged, compared to its average volume of 3,528,478. The stock has a fifty day moving average of $50.35 and a two-hundred day moving average of $42.33. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $57.51. The firm has a market cap of $28.87 billion, a PE ratio of -110.63 and a beta of 1.53.

Samsara (NYSE:IOT - Get Free Report) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. The business 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%. The business's quarterly 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. On average, analysts predict that Samsara Inc. will post -0.34 EPS for the current year.

Insider Activity at Samsara

In other Samsara news, 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 value of $14,894,042.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Sanjit Biswas sold 83,333 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,484,148.73. Following the transaction, the insider now owns 19,200 shares of the company's stock, valued at approximately $1,033,152. This represents a 81.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,873,300 shares of company stock worth $91,752,243 in the last 90 days. 60.04% of the stock is currently owned by company insiders.

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.