Samsara Inc. (NYSE:IOT) Shares Sold by Wealth Dimensions Group Ltd.

Wealth Dimensions Group Ltd. cut its holdings in Samsara Inc. (NYSE:IOT) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 226,698 shares of the company’s stock after selling 24,400 shares during the period. Samsara accounts for about 2.2% of Wealth Dimensions Group Ltd.’s portfolio, making the stock its 14th largest holding. Wealth Dimensions Group Ltd.’s holdings in Samsara were worth $7,640,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Samsara in the fourth quarter valued at $37,000. National Bank of Canada FI acquired a new stake in Samsara in the second quarter valued at about $38,000. Tradition Wealth Management LLC acquired a new stake in shares of Samsara during the 4th quarter valued at approximately $46,000. Ulland Investment Advisors LLC lifted its position in shares of Samsara by 33.6% during the 1st quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock valued at $75,000 after acquiring an additional 500 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Samsara during the 1st quarter valued at approximately $94,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Performance

Shares of IOT stock opened at $47.44 on Monday. Samsara Inc. has a 52-week low of $21.48 and a 52-week high of $47.68. The stock has a market cap of $26.13 billion, a price-to-earnings ratio of -94.88 and a beta of 1.50. The firm has a fifty day moving average of $39.21 and a 200-day moving average of $36.55.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million for the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business’s revenue was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. On average, sell-side analysts predict that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Activity at Samsara

In other news, insider Lara Caimi sold 7,508 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the transaction, the insider now owns 1,093,535 shares of the company’s stock, valued at $50,761,894.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Lara Caimi sold 7,508 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $46.42, for a total value of $348,521.36. Following the completion of the transaction, the insider now owns 1,093,535 shares in the company, valued at approximately $50,761,894.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the sale, the chief executive officer now directly owns 1,466,299 shares of the company’s stock, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,858,859 shares of company stock worth $73,525,632. Corporate insiders own 60.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. TD Cowen lifted their price target on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Wolfe Research reissued an “outperform” rating and issued a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. Morgan Stanley boosted their price objective on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Finally, Piper Sandler upped their target price on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

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.