Oppenheimer & Co. Inc. Makes New Investment in Samsara Inc. (NYSE:IOT)

Oppenheimer & Co. Inc. acquired a new position in Samsara Inc. (NYSE:IOT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,527 shares of the company’s stock, valued at approximately $1,180,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its position in Samsara by 9.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after purchasing an additional 280 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Samsara by 3.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after purchasing an additional 304 shares in the last quarter. UMB Bank n.a. grew its position in Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares in the last quarter. Resources Management Corp CT ADV grew its position in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after acquiring an additional 490 shares during the period. Finally, Cetera Advisors LLC grew its position in shares of Samsara by 6.8% during the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after acquiring an additional 497 shares during the period. 89.39% of the stock is owned by institutional investors.

Samsara Price Performance

NYSE IOT opened at $49.49 on Tuesday. Samsara Inc. has a 1 year low of $25.76 and a 1 year high of $53.98. The stock has a market capitalization of $27.53 billion, a PE ratio of -103.09 and a beta of 1.52. The company’s 50 day simple moving average is $48.68 and its two-hundred day simple moving average is $41.02.

Samsara (NYSE:IOT) last posted its earnings results 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. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the prior year, the company posted ($0.11) EPS. The business’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, research analysts anticipate that Samsara Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

IOT has been the subject of a number of research reports. Truist Financial increased their target price on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday. Morgan Stanley increased their target price on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. BMO Capital Markets increased their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Bank of America increased their target price on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.87.

Insider Activity

In other news, CAO James Andrew Munk sold 1,093 shares of the firm’s 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 approximately $15,123,445.77. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,708,307 shares of company stock worth $78,039,972. 60.04% of the stock is currently owned by corporate insiders.

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.