Allspring Global Investments Holdings LLC Acquires New Position in Samsara Inc. (NYSE:IOT)

Allspring Global Investments Holdings LLC bought a new position in Samsara Inc. (NYSE:IOT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 874,302 shares of the company’s stock, valued at approximately $29,464,000.

Several other institutional investors also recently bought and sold shares of IOT. Quarry LP acquired a new position in Samsara in the fourth quarter valued at $37,000. Montag A & Associates Inc. boosted its position in shares of Samsara by 1,200.0% in the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after acquiring an additional 1,200 shares during the last quarter. Tradition Wealth Management LLC purchased a new stake in Samsara in the fourth quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Samsara by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after purchasing an additional 381 shares during the last quarter. Finally, Ulland Investment Advisors LLC raised its stake in Samsara by 33.6% during the first quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock worth $75,000 after purchasing an additional 500 shares during the period. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Samsara news, insider Adam Eltoukhy sold 9,471 shares of Samsara stock in a transaction on Monday, July 15th. The shares were sold at an average price of $37.79, for a total value of $357,909.09. Following the completion of the transaction, the insider now owns 465,967 shares of the company’s stock, valued at $17,608,892.93. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Samsara news, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 9,471 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the sale, the insider now owns 465,967 shares in the company, valued at approximately $17,608,892.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,543,922 shares of company stock worth $53,221,881. 60.04% of the stock is currently owned by insiders.

Samsara Price Performance

Shares of IOT stock opened at $41.99 on Wednesday. The firm has a market cap of $23.13 billion, a P/E ratio of -83.98 and a beta of 1.49. The firm has a fifty day moving average of $36.53 and a two-hundred day moving average of $35.70. Samsara Inc. has a 1-year low of $21.48 and a 1-year high of $42.49.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, June 6th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Samsara had a negative return on equity of 21.66% and a negative net margin of 27.14%. The business had revenue of $280.73 million during the quarter, compared to the consensus estimate of $272.51 million. On average, sell-side analysts expect that Samsara Inc. will post -0.39 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IOT. Evercore ISI lowered their price objective on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a research note on Friday, June 7th. StockNews.com lowered Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Bank of America began coverage on Samsara in a report on Thursday, June 20th. They issued a “buy” rating and a $37.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 target price on shares of Samsara in a report on Wednesday, June 26th. Finally, Wolfe Research restated an “outperform” rating and issued a $44.00 price target on shares of Samsara in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.17.

About Samsara

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.