Samsara Inc. (NYSE:IOT) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in Samsara Inc. (NYSE:IOT) by 19.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 621,200 shares of the company’s stock after purchasing an additional 100,300 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of Samsara worth $20,934,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in Samsara during the 4th quarter worth $37,000. National Bank of Canada FI purchased a new stake in Samsara during the 2nd quarter valued at approximately $38,000. Tradition Wealth Management LLC purchased a new position in shares of Samsara during the 4th quarter worth approximately $46,000. Ulland Investment Advisors LLC raised its stake in shares of Samsara by 33.6% during the 1st quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock worth $75,000 after buying an additional 500 shares in the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Samsara in the 1st quarter worth approximately $94,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on IOT. Evercore ISI increased their target price on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Wolfe Research reissued an “outperform” rating and issued a $44.00 price objective on shares of Samsara in a research report on Friday, June 28th. Wells Fargo & Company lifted their target price on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. TD Cowen lifted their price target on Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Finally, Truist Financial lifted their price target on Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Samsara Price Performance

Shares of NYSE:IOT opened at $49.39 on Monday. The stock has a market cap of $27.20 billion, a price-to-earnings ratio of -98.78 and a beta of 1.50. Samsara Inc. has a 12 month low of $21.48 and a 12 month high of $49.56. The stock’s 50 day moving average price is $40.39 and its 200 day moving average price is $37.00.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The firm’s revenue was up 36.9% on a year-over-year basis. On average, sell-side analysts expect that Samsara Inc. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares in the company, valued at $15,123,445.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction dated 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 three months, insiders have sold 2,049,232 shares of company stock worth $82,346,868. Corporate insiders own 60.04% of the company’s stock.

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.