American Century Companies Inc. Boosts Stake in Samsara Inc. $IOT

American Century Companies Inc. increased its stake in shares of Samsara Inc. (NYSE:IOT) by 13.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,786,790 shares of the company’s stock after buying an additional 214,793 shares during the quarter. American Century Companies Inc.’s holdings in Samsara were worth $66,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Samsara by 18.3% during the 2nd quarter. Vanguard Group Inc. now owns 27,803,226 shares of the company’s stock worth $1,106,012,000 after acquiring an additional 4,307,755 shares during the period. Norges Bank purchased a new position in shares of Samsara in the second quarter worth about $134,950,000. State Street Corp lifted its holdings in shares of Samsara by 107.8% during the second quarter. State Street Corp now owns 5,611,956 shares of the company’s stock worth $223,244,000 after purchasing an additional 2,910,916 shares during the period. Sands Capital Management LLC boosted its position in Samsara by 17.2% in the second quarter. Sands Capital Management LLC now owns 19,276,210 shares of the company’s stock valued at $766,808,000 after buying an additional 2,833,049 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Samsara by 9,044.6% in the 3rd quarter. Nordea Investment Management AB now owns 2,077,481 shares of the company’s stock worth $75,174,000 after buying an additional 2,054,763 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 4,688 shares of the business’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $26.79, for a total value of $125,591.52. Following the completion of the sale, the insider owned 246,675 shares of the company’s stock, valued at approximately $6,608,423.25. The trade was a 1.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Bicket sold 263,900 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $25.87, for a total transaction of $6,827,093.00. Following the transaction, the insider owned 57,600 shares of the company’s stock, valued at $1,490,112. This represents a 82.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,923,463 shares of company stock valued at $92,883,523 over the last ninety days. 46.49% of the stock is owned by corporate insiders.

Samsara Stock Down 0.7%

NYSE:IOT opened at $28.75 on Thursday. Samsara Inc. has a 52 week low of $23.38 and a 52 week high of $48.40. The stock’s 50-day moving average price is $30.52 and its 200-day moving average price is $35.57. The stock has a market capitalization of $16.59 billion, a PE ratio of -359.38 and a beta of 1.60.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.11). Samsara had a negative return on equity of 3.49% and a negative net margin of 2.79%.The business had revenue of $415.98 million during the quarter, compared to analyst estimates of $398.92 million. During the same period in the previous year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. Sell-side analysts expect that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on IOT shares. Jefferies Financial Group set a $57.00 price objective on shares of Samsara in a research note on Wednesday, December 10th. Wells Fargo & Company decreased their target price on shares of Samsara from $52.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. The Goldman Sachs Group set a $45.00 price target on Samsara in a research report on Monday. JPMorgan Chase & Co. lifted their price objective on Samsara from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Samsara in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.69.

About Samsara

Samsara develops an industrial Internet of Things (IoT) platform designed to help organizations monitor, manage, and optimize physical operations. The company combines connected hardware — including telematics devices, GPS trackers, dash cameras, and environmental sensors — with cloud-based software to provide real-time visibility into vehicles, mobile equipment, and fixed assets. Its software offers tools for fleet management, driver and worker safety, asset tracking, compliance (including electronic logging), maintenance scheduling, and operational analytics.

The Samsara platform emphasizes integration of live data streams with analytics and workflow features to drive efficiency and safety across industries that rely on dispersed equipment and mobile workforces.