Quest Partners LLC Sells 1,544 Shares of Samsara Inc. (NYSE:IOT)

Quest Partners LLC lowered its holdings in shares of Samsara Inc. (NYSE:IOT) by 38.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,486 shares of the company’s stock after selling 1,544 shares during the period. Quest Partners LLC’s holdings in Samsara were worth $120,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IOT. Advisors Asset Management Inc. lifted its stake in shares of Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after buying an additional 280 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Samsara in the first quarter worth $749,000. California State Teachers Retirement System bought a new position in shares of Samsara during the first quarter valued at $8,009,000. Cetera Advisors LLC boosted its position in shares of Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after buying an additional 497 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Samsara by 45.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 146,789 shares of the company’s stock worth $5,547,000 after buying an additional 45,700 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Insider Buying and Selling at Samsara

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 93,107 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,716,831.44. Following the transaction, the chief executive officer now directly owns 76,800 shares in the company, valued at approximately $3,065,856. This represents a 54.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,809,695 shares of company stock worth $85,445,322 over the last 90 days. 60.04% of the stock is owned by insiders.

Samsara Stock Down 3.0 %

Shares of Samsara stock opened at $53.74 on Friday. The company has a market capitalization of $29.90 billion, a price-to-earnings ratio of -111.96 and a beta of 1.52. The stock’s 50-day simple moving average is $49.83 and its 200-day simple moving average is $41.84. Samsara Inc. has a 52 week low of $26.13 and a 52 week high of $57.51.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping 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 business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same period in the prior year, the company posted ($0.11) EPS. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, equities analysts expect that Samsara Inc. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company increased 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. BMO Capital Markets lifted their price objective on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Bank of America boosted their price target on Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Truist Financial increased their price objective on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.67.

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.