Two Sigma Advisers LP Increases Holdings in Samsara Inc. (NYSE:IOT)

Two Sigma Advisers LP boosted its stake in Samsara Inc. (NYSE:IOT - Free Report) by 102.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 687,100 shares of the company's stock after acquiring an additional 348,500 shares during the period. Two Sigma Advisers LP owned 0.12% of Samsara worth $33,063,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Temasek Holdings Private Ltd bought a new position in Samsara in the third quarter worth $1,525,000. State Street Corp increased its stake in shares of Samsara by 4.7% in the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company's stock worth $102,283,000 after acquiring an additional 95,006 shares in the last quarter. Quadrature Capital Ltd lifted its position in Samsara by 11.6% during the 3rd quarter. Quadrature Capital Ltd now owns 19,570 shares of the company's stock valued at $942,000 after acquiring an additional 2,031 shares during the period. Investment Management Corp of Ontario bought a new stake in Samsara during the third quarter worth about $332,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Samsara during the third quarter worth about $430,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

Samsara Stock Performance

Shares of NYSE IOT traded down $2.86 during midday trading on Friday, hitting $52.27. 10,742,267 shares of the stock traded hands, compared to its average volume of 2,404,721. Samsara Inc. has a one year low of $27.14 and a one year high of $57.51. The firm has a market capitalization of $29.08 billion, a P/E ratio of -111.21 and a beta of 1.53. The firm has a 50-day moving average of $50.44 and a two-hundred day moving average of $42.42.

Samsara (NYSE:IOT - Get Free Report) last released its quarterly 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 during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.11) EPS. Equities analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Samsara from $49.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. Truist Financial raised their price target on Samsara from $40.00 to $50.00 and gave the company a "hold" rating in a report on Monday, November 18th. Wells Fargo & Company lifted their price target on Samsara from $46.00 to $55.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, TD Cowen lifted their target price on shares of Samsara from $46.00 to $56.00 and gave the stock a "buy" rating in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $51.29.

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $46.88, for a total transaction of $4,500,480.00. Following the completion of the sale, the chief executive officer now owns 698,299 shares of the company's stock, valued at approximately $32,736,257.12. The trade was a 12.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Bicket sold 75,600 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $55.89, for a total value of $4,225,284.00. Following the completion of the transaction, the insider now directly owns 400,020 shares in the company, valued at $22,357,117.80. This trade represents a 15.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,873,300 shares of company stock valued at $91,752,243. Insiders own 60.04% of the company's stock.

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.