TimesSquare Capital Management LLC Sells 273,560 Shares of Samsara Inc. (NYSE:IOT)

TimesSquare Capital Management LLC lowered its stake in shares of Samsara Inc. (NYSE:IOT) by 23.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 871,561 shares of the company’s stock after selling 273,560 shares during the period. TimesSquare Capital Management LLC owned 0.16% of Samsara worth $41,940,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IOT. Harbor Capital Advisors Inc. lifted its stake in Samsara by 41.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 150,775 shares of the company’s stock valued at $7,255,000 after purchasing an additional 44,246 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Samsara in the third quarter valued at approximately $289,000. Farther Finance Advisors LLC lifted its position in shares of Samsara by 77.5% in the third quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock valued at $91,000 after buying an additional 821 shares during the last quarter. AustralianSuper Pty Ltd boosted its stake in shares of Samsara by 97.5% during the 3rd quarter. AustralianSuper Pty Ltd now owns 27,533 shares of the company’s stock worth $1,325,000 after acquiring an additional 13,590 shares during the period. Finally, Avitas Wealth Management LLC acquired a new position in shares of Samsara during the 3rd quarter worth approximately $245,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on IOT shares. Piper Sandler upped their price objective on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Wells Fargo & Company upped their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Truist Financial raised their price objective on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Craig Hallum started coverage on Samsara in a research report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Samsara currently has a consensus rating of “Hold” and a consensus price target of $44.20.

Samsara Trading Up 1.8 %

Shares of IOT stock opened at $52.72 on Friday. The firm has a fifty day simple moving average of $47.48 and a two-hundred day simple moving average of $40.31. Samsara Inc. has a 12 month low of $23.12 and a 12 month high of $52.81. The firm has a market capitalization of $29.33 billion, a PE ratio of -109.83 and a beta of 1.52.

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 the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) EPS. On average, equities analysts predict that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Samsara news, insider Adam Eltoukhy sold 12,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the transaction, the insider now directly owns 465,967 shares in the company, valued at approximately $20,968,515. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Samsara news, insider John Bicket sold 78,128 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.51, for a total value of $3,164,965.28. Following the transaction, the insider now owns 1,273,912 shares of the company’s stock, valued at approximately $51,606,175.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Eltoukhy sold 12,500 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $45.00, for a total value of $562,500.00. Following the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at approximately $20,968,515. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,864,730 shares of company stock worth $84,375,885. 60.04% of the stock is owned by corporate insiders.

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.