Charles Schwab Investment Management Inc. Has $85.47 Million Stock Position in Samsara Inc. (NYSE:IOT)

Charles Schwab Investment Management Inc. lifted its stake in Samsara Inc. (NYSE:IOT) by 18.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,229,773 shares of the company’s stock after purchasing an additional 352,829 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.39% of Samsara worth $85,467,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of IOT. Jennison Associates LLC lifted its stake in Samsara by 1,881.8% in the 1st quarter. Jennison Associates LLC now owns 11,763,133 shares of the company’s stock worth $450,881,000 after acquiring an additional 11,169,571 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Samsara by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 23,495,471 shares of the company’s stock valued at $900,581,000 after acquiring an additional 2,516,882 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Samsara by 7.1% during the 1st quarter. Baillie Gifford & Co. now owns 35,277,488 shares of the company’s stock valued at $1,352,186,000 after acquiring an additional 2,348,101 shares during the last quarter. Bessemer Group Inc. increased its position in Samsara by 2,635,339.0% in the 1st quarter. Bessemer Group Inc. now owns 1,080,530 shares of the company’s stock worth $41,418,000 after buying an additional 1,080,489 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Samsara by 99.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,909,336 shares of the company’s stock worth $74,082,000 after buying an additional 952,791 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IOT has been the topic of a number of research reports. Wall Street Zen cut Samsara from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore ISI set a $45.00 price target on Samsara in a research note on Wednesday, June 25th. Wells Fargo & Company increased their target price on Samsara from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. BMO Capital Markets raised their price target on Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a research report on Monday, June 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $47.00 target price (down previously from $53.00) on shares of Samsara in a research report on Thursday, August 7th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $50.21.

Samsara Price Performance

Shares of NYSE IOT opened at $32.67 on Wednesday. The stock has a market capitalization of $18.60 billion, a PE ratio of -148.50 and a beta of 1.62. The business has a fifty day moving average price of $38.91 and a two-hundred day moving average price of $42.32. Samsara Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $61.90.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, June 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The business had revenue of $366.88 million during the quarter, compared to analysts’ expectations of $351.44 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 30.7% compared to the same quarter last year. On average, equities analysts expect that Samsara Inc. will post -0.3 EPS for the current year.

Insider Transactions at Samsara

In related news, insider Sanjit Biswas sold 27,602 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $36.20, for a total transaction of $999,192.40. Following the completion of the sale, the insider directly owned 851,902 shares of the company’s stock, valued at approximately $30,838,852.40. This trade represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 10,083 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $38.77, for a total value of $390,917.91. Following the sale, the insider directly owned 358,720 shares of the company’s stock, valued at $13,907,574.40. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,926,739 shares of company stock valued at $119,969,024 over the last ninety days. 46.49% of the stock is currently owned by insiders.

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.