Canton Hathaway LLC Takes Position in Samsara Inc. (NYSE:IOT)

Canton Hathaway LLC bought a new position in Samsara Inc. (NYSE:IOT) in the third quarter, Holdings Channel reports. The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $241,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IOT. UniSuper Management Pty Ltd bought a new stake in shares of Samsara in the 1st quarter worth approximately $94,000. Advisors Asset Management Inc. boosted its position in Samsara by 9.4% during the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after buying an additional 280 shares during the period. Toronto Dominion Bank bought a new position in shares of Samsara during the first quarter valued at about $620,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Samsara in the first quarter worth about $749,000. Finally, California State Teachers Retirement System bought a new stake in shares of Samsara in the 1st quarter valued at about $8,009,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on IOT. Piper Sandler raised their price target on Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. BMO Capital Markets lifted their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Morgan Stanley upped their price target on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Wells Fargo & Company raised their price target on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Loop Capital upped their price objective on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.67.

Insiders Place Their Bets

In related news, CAO James Andrew Munk sold 1,093 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the transaction, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at $15,123,445.77. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,826,114 shares of company stock worth $84,024,779. 60.04% of the stock is currently owned by company insiders.

Samsara Stock Performance

NYSE IOT opened at $57.11 on Monday. The stock’s 50 day moving average is $49.25 and its 200 day moving average is $41.45. Samsara Inc. has a twelve month low of $26.13 and a twelve month high of $57.11.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 EPS 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 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 company’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) EPS. As a group, equities analysts predict that Samsara Inc. will post -0.34 EPS for the current year.

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.