Pitcairn Co. Raises Stock Holdings in Samsara Inc. (NYSE:IOT)

Pitcairn Co. lifted its stake in Samsara Inc. (NYSE:IOT) by 56.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,032 shares of the company’s stock after buying an additional 4,682 shares during the quarter. Pitcairn Co.’s holdings in Samsara were worth $627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in Samsara by 55.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock worth $88,013,000 after acquiring an additional 650,982 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Samsara in the third quarter worth $644,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Samsara during the 3rd quarter valued at $697,000. Jennison Associates LLC purchased a new position in shares of Samsara during the 3rd quarter valued at $211,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Samsara in the 3rd quarter worth $205,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IOT has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. TD Cowen upped their price target on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company lifted their price objective on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Morgan Stanley upped their target price on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Finally, Loop Capital lifted their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.67.

Insider Buying and Selling

In other news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $50.37, for a total transaction of $4,835,520.00. Following the completion of the sale, the chief executive officer now directly owns 195,886 shares of the company’s stock, valued at approximately $9,866,777.82. The trade was a 32.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Eltoukhy sold 12,500 shares of Samsara stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $55.05, for a total transaction of $688,125.00. Following the sale, the insider now owns 396,784 shares of the company’s stock, valued at $21,842,959.20. The trade was a 3.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,658,501 shares of company stock valued at $76,995,090. Company insiders own 60.04% of the company’s stock.

Samsara Price Performance

NYSE:IOT opened at $55.50 on Tuesday. The firm has a market capitalization of $30.88 billion, a price-to-earnings ratio of -115.63 and a beta of 1.52. The business has a 50 day simple moving average of $49.43 and a 200-day simple moving average of $41.56. Samsara Inc. has a 1 year low of $26.13 and a 1 year high of $57.51.

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

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.