Samsara Inc. (NYSE:IOT) Stock Position Decreased by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of Samsara Inc. (NYSE:IOT) by 3.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 11,741 shares of the company’s stock after selling 461 shares during the quarter. Ritholtz Wealth Management’s holdings in Samsara were worth $450,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IOT. FMR LLC boosted its stake in shares of Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after acquiring an additional 2,852,575 shares in the last quarter. Jordan Park Trust Co LLC acquired a new stake in shares of Samsara in the fourth quarter worth $112,041,000. Norges Bank acquired a new stake in shares of Samsara in the fourth quarter worth $106,274,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Samsara by 107.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after buying an additional 2,148,081 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Samsara by 577.7% in the fourth quarter. Franklin Resources Inc. now owns 1,458,813 shares of the company’s stock worth $63,736,000 after buying an additional 1,243,561 shares during the period. 96.02% of the stock is owned by institutional investors.

Samsara Trading Up 1.2%

IOT opened at $38.68 on Friday. Samsara Inc. has a 1 year low of $28.69 and a 1 year high of $61.90. The stock has a fifty day moving average price of $42.38 and a 200 day moving average price of $44.55. The stock has a market cap of $22.02 billion, a price-to-earnings ratio of -175.80 and a beta of 1.74.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The company had revenue of $366.88 million during the quarter, compared to analysts’ expectations of $351.44 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was up 30.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on IOT. BMO Capital Markets raised their target price on Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Truist Financial decreased their target price on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 target price (up previously from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Morgan Stanley decreased their target price on Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Finally, Craig Hallum reissued a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

Insiders Place Their Bets

In other news, Director Marc L. Andreessen sold 399,026 shares of Samsara stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total value of $16,491,744.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 10,451 shares of Samsara stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $41.23, for a total value of $430,894.73. Following the completion of the transaction, the insider now owns 395,646 shares in the company, valued at $16,312,484.58. The trade was a 2.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,137,417 shares of company stock valued at $89,601,167 over the last quarter. Insiders own 46.49% of the company’s stock.

Samsara Company 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.