TimesSquare Capital Management LLC Sells 273,560 Shares of Samsara Inc. (NYSE:IOT)

TimesSquare Capital Management LLC trimmed its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 23.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 871,561 shares of the company's stock after selling 273,560 shares during the period. TimesSquare Capital Management LLC owned approximately 0.16% of Samsara worth $41,940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Baillie Gifford & Co. increased its holdings in Samsara by 18.1% in the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company's stock worth $924,499,000 after buying an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Samsara by 102.1% in the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company's stock worth $288,266,000 after purchasing an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company's stock worth $666,584,000 after purchasing an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. grew its position in Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company's stock worth $646,253,000 after purchasing an additional 1,841,149 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Samsara during the 2nd quarter valued at $29,464,000. Institutional investors own 89.39% of the company's stock.

Samsara Price Performance

Shares of NYSE:IOT traded up $0.95 during trading on Friday, hitting $52.72. 2,127,391 shares of the company's stock were exchanged, compared to its average volume of 2,208,654. The business's 50-day simple moving average is $47.48 and its 200 day simple moving average is $40.31. The company has a market cap of $29.33 billion, a price-to-earnings ratio of -109.83 and a beta of 1.52. Samsara Inc. has a 52-week low of $23.12 and a 52-week high of $52.81.

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. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm had revenue of $300.20 million for the quarter, compared to analysts' expectations of $289.53 million. During the same quarter last year, the business posted ($0.11) earnings per share. The company's revenue for the quarter was up 36.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IOT has been the topic of a number of research reports. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a research note on Friday. Piper Sandler boosted their price target on Samsara from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, September 6th. Bank of America increased their price objective on shares of Samsara from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Friday, September 6th. TD Cowen boosted their target price on shares of Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Finally, Evercore ISI increased their price target on shares of Samsara from $40.00 to $42.00 and gave the stock an "in-line" rating in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $44.20.

Insider Buying and Selling

In other Samsara news, insider John Bicket sold 64,137 shares of the stock in a transaction on Tuesday, November 5th. The shares were 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 owns 41,288 shares in the company, valued at $1,960,354.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sanjit Biswas sold 64,188 shares of the business's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the completion of the transaction, the chief executive officer now owns 41,272 shares in the company, valued at $1,959,594.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Bicket sold 64,137 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $47.48, for a total value of $3,045,224.76. Following the completion of the transaction, the insider now directly owns 41,288 shares in the company, valued at $1,960,354.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,864,730 shares of company stock worth $84,375,885. Corporate insiders own 60.04% of the company's stock.

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.