PNC Financial Services Group Inc. Sells 4,712 Shares of Samsara Inc. (NYSE:IOT)

PNC Financial Services Group Inc. lowered its position in Samsara Inc. (NYSE:IOT) by 31.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,072 shares of the company’s stock after selling 4,712 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Samsara were worth $386,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of IOT. NewEdge Advisors LLC boosted its holdings in Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 414 shares during the period. Keystone Financial Group Inc. boosted its holdings in Samsara by 300.0% in the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company’s stock worth $25,000 after buying an additional 450 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Samsara in the 1st quarter worth $31,000. Fourth Dimension Wealth LLC bought a new position in Samsara in the 4th quarter worth $38,000. Finally, CWM LLC boosted its holdings in Samsara by 385.3% in the 1st quarter. CWM LLC now owns 1,053 shares of the company’s stock worth $40,000 after buying an additional 836 shares during the period. Institutional investors own 96.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on IOT. BMO Capital Markets boosted their price target on shares of Samsara from $48.00 to $54.00 and gave the stock an “outperform” rating in a research note on Monday, June 2nd. Wells Fargo & Company boosted their price target on shares of Samsara from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 6th. Wall Street Zen cut shares of Samsara from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Piper Sandler reiterated an “overweight” rating and issued a $47.00 price target (down previously from $53.00) on shares of Samsara in a research note on Thursday, August 7th. Finally, Evercore ISI set a $45.00 price target on shares of Samsara in a research note on Wednesday, June 25th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.21.

Insider Activity

In related news, insider Sanjit Biswas sold 160,000 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $39.58, for a total transaction of $6,332,800.00. Following the transaction, the insider directly owned 78,000 shares in the company, valued at approximately $3,087,240. This represents a 67.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc L. Andreessen sold 399,026 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total transaction of $16,491,744.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,926,739 shares of company stock valued at $119,969,024. 46.49% of the stock is currently owned by company insiders.

Samsara Price Performance

Shares of IOT stock opened at $32.25 on Friday. Samsara Inc. has a 1 year low of $31.40 and a 1 year high of $61.90. The stock’s 50 day simple moving average is $38.33 and its two-hundred day simple moving average is $42.14. The company has a market cap of $18.36 billion, a PE ratio of -146.57 and a beta of 1.62.

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

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.