Stonegate Investment Group LLC Buys New Stake in Samsara Inc. (NYSE:IOT)

Stonegate Investment Group LLC purchased a new position in Samsara Inc. (NYSE:IOTFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,850 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of IOT. Vanguard Group Inc. grew its position in Samsara by 84.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,636,709 shares of the company’s stock worth $92,175,000 after purchasing an additional 3,495,366 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Samsara in the 2nd quarter worth $52,707,000. PointState Capital LP grew its position in Samsara by 62.7% in the 1st quarter. PointState Capital LP now owns 3,641,355 shares of the company’s stock worth $58,335,000 after purchasing an additional 1,402,994 shares during the last quarter. Bank of America Corp DE grew its position in Samsara by 13,691.1% in the 1st quarter. Bank of America Corp DE now owns 1,266,710 shares of the company’s stock worth $24,980,000 after purchasing an additional 1,257,525 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in Samsara by 2,862.3% in the 1st quarter. Two Sigma Investments LP now owns 1,270,867 shares of the company’s stock worth $25,061,000 after purchasing an additional 1,227,966 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Samsara

In related news, insider John Bicket sold 86,974 shares of Samsara stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $32.63, for a total transaction of $2,837,961.62. Following the completion of the transaction, the insider now directly owns 949,198 shares of the company’s stock, valued at approximately $30,972,330.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Samsara news, insider John Bicket sold 86,974 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $32.63, for a total value of $2,837,961.62. Following the completion of the transaction, the insider now directly owns 949,198 shares of the company’s stock, valued at $30,972,330.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 87,127 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $32.63, for a total transaction of $2,842,954.01. Following the completion of the transaction, the chief executive officer now directly owns 955,208 shares of the company’s stock, valued at $31,168,437.04. The disclosure for this sale can be found here. Insiders sold 1,754,964 shares of company stock valued at $60,385,777 in the last ninety days. Insiders own 66.14% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $31.56.

Check Out Our Latest Research Report on IOT

Samsara Stock Down 3.0 %

NYSE:IOT opened at $34.47 on Thursday. Samsara Inc. has a 52 week low of $16.63 and a 52 week high of $40.54. The company has a 50-day moving average of $34.79 and a 200-day moving average of $30.62.

Samsara (NYSE:IOTGet Free Report) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. The firm had revenue of $276.27 million during the quarter, compared to the consensus estimate of $258.56 million. Equities research analysts predict that Samsara Inc. will post -0.4 earnings per share for the current fiscal year.

Samsara Profile

(Free Report)

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.

Further Reading

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Institutional Ownership by Quarter for Samsara (NYSE:IOT)

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