abrdn plc Makes New Investment in Samsara Inc. (NYSE:IOT)

abrdn plc acquired a new stake in Samsara Inc. (NYSE:IOT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,294 shares of the company’s stock, valued at approximately $207,000.

Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can bought a new stake in Samsara during the 2nd quarter valued at approximately $537,000. Magnetar Financial LLC purchased a new position in shares of Samsara in the second quarter worth $1,240,000. Swiss National Bank bought a new position in shares of Samsara during the first quarter worth $19,477,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Samsara during the first quarter valued at $647,000. Finally, RFG Advisory LLC increased its holdings in Samsara by 41.5% in the 2nd quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock valued at $421,000 after acquiring an additional 3,662 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

Insider Transactions at Samsara

In other news, insider John Bicket sold 78,128 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $40.51, for a total value of $3,164,965.28. Following the completion of the sale, the insider now owns 1,273,912 shares of the company’s stock, valued at $51,606,175.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Samsara news, CEO Sanjit Biswas sold 84,030 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total value of $3,524,218.20. Following the completion of the transaction, the chief executive officer now owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Bicket sold 78,128 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.51, for a total transaction of $3,164,965.28. Following the sale, the insider now directly owns 1,273,912 shares in the company, valued at $51,606,175.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,736,405 shares of company stock valued at $78,283,014. Corporate insiders own 60.04% of the company’s stock.

Samsara Price Performance

Shares of NYSE IOT opened at $48.23 on Wednesday. The business has a fifty day moving average price of $46.72 and a 200 day moving average price of $39.83. Samsara Inc. has a 1-year low of $23.12 and a 1-year high of $51.53. The stock has a market capitalization of $26.83 billion, a P/E ratio of -100.48 and a beta of 1.52.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company’s revenue was up 36.9% compared to the same quarter last year. During the same period last year, the business earned ($0.11) EPS. As a group, equities research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on IOT. 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 report on Friday, September 6th. TD Cowen raised their price target on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. JPMorgan Chase & Co. boosted their price target on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. StockNews.com cut Samsara from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.20.

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.