Qsemble Capital Management LP Takes Position in Samsara Inc. (NYSE:IOT)

Qsemble Capital Management LP purchased a new stake in Samsara Inc. (NYSE:IOT) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,755 shares of the company’s stock, valued at approximately $229,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Private Trust Co. NA raised its holdings in Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after acquiring an additional 250 shares in the last quarter. Canton Hathaway LLC acquired a new stake in shares of Samsara in the 3rd quarter worth about $241,000. DRW Securities LLC bought a new position in Samsara in the 3rd quarter valued at about $956,000. Daiwa Securities Group Inc. grew its position in Samsara by 12.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,800 shares of the company’s stock valued at $760,000 after buying an additional 1,800 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in Samsara by 4.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after buying an additional 138,702 shares in the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IOT. Royal Bank of Canada increased their target price on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Morgan Stanley raised their price objective on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. BNP Paribas assumed coverage on shares of Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price for the company. TD Cowen raised their target price on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company increased their price target on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.67.

Insider Transactions at Samsara

In other Samsara news, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the sale, the chief accounting officer now owns 319,667 shares in the company, valued at $15,123,445.77. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Eltoukhy sold 12,500 shares of Samsara 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 sale, the insider now owns 465,967 shares in the company, valued at $20,968,515. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,809,695 shares of company stock worth $85,445,322. Insiders own 60.04% of the company’s stock.

Samsara Trading Down 3.0 %

Shares of Samsara stock opened at $53.73 on Thursday. The company’s fifty day simple moving average is $49.70 and its 200-day simple moving average is $41.76. The company has a market cap of $29.89 billion, a price-to-earnings ratio of -111.94 and a beta of 1.52. Samsara Inc. has a 1 year low of $26.13 and a 1 year high of $57.51.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.11) earnings per share. As a group, research analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

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.