Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Samsara Inc. (NYSE:IOT)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Samsara Inc. (NYSE:IOT) by 31.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,575 shares of the company’s stock after acquiring an additional 381 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Samsara were worth $53,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC purchased a new position in Samsara in the third quarter valued at approximately $28,000. International Assets Investment Management LLC purchased a new position in shares of Samsara during the 4th quarter valued at $162,000. Stonegate Investment Group LLC bought a new position in shares of Samsara during the 4th quarter worth $229,000. RFG Advisory LLC purchased a new stake in Samsara in the 4th quarter worth about $230,000. Finally, Spinnaker Investment Group LLC bought a new stake in Samsara in the 4th quarter valued at about $244,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Stock Up 0.3 %

Shares of IOT opened at $39.85 on Friday. Samsara Inc. has a 1-year low of $18.24 and a 1-year high of $40.69. The firm’s 50 day simple moving average is $35.44 and its 200 day simple moving average is $32.32.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. The company had revenue of $276.27 million during the quarter, compared to the consensus estimate of $258.56 million. On average, sell-side analysts anticipate that Samsara Inc. will post -0.4 EPS for the current year.

Insider Activity

In other Samsara news, CAO James Andrew Munk sold 9,714 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $35.46, for a total value of $344,458.44. Following the completion of the sale, the chief accounting officer now owns 307,185 shares of the company’s stock, valued at $10,892,780.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CAO James Andrew Munk sold 9,714 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $35.46, for a total transaction of $344,458.44. Following the transaction, the chief accounting officer now directly owns 307,185 shares of the company’s stock, valued at $10,892,780.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $32.92, for a total value of $3,160,320.00. Following the completion of the sale, the chief executive officer now directly owns 562,335 shares of the company’s stock, valued at approximately $18,512,068.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,681,107 shares of company stock worth $59,465,592. 66.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IOT shares. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Loop Capital initiated coverage on shares of Samsara in a report on Thursday, April 18th. They issued a “buy” rating and a $42.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

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.