Sumitomo Mitsui Trust Group Inc. Acquires 16,528 Shares of Samsara Inc. (NYSE:IOT)

Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Samsara Inc. (NYSE:IOT) by 4.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 376,283 shares of the company’s stock after purchasing an additional 16,528 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.07% of Samsara worth $18,107,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its holdings in Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after buying an additional 10,452 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Samsara during the second quarter valued at approximately $537,000. Magnetar Financial LLC purchased a new stake in shares of Samsara in the second quarter valued at approximately $1,240,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Samsara in the first quarter worth approximately $647,000. Finally, RFG Advisory LLC increased its holdings in Samsara by 41.5% during the 2nd quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock worth $421,000 after purchasing an additional 3,662 shares during the period. 89.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Sanjit Biswas sold 64,188 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total value of $3,047,646.24. Following the transaction, the chief executive officer now directly owns 41,272 shares of the company’s stock, valued at $1,959,594.56. This represents a 60.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lara Caimi sold 7,508 shares of Samsara stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $46.42, for a total value of $348,521.36. Following the sale, the insider now directly owns 1,093,535 shares of the company’s stock, valued at approximately $50,761,894.70. This represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,864,730 shares of company stock valued at $84,375,885. Insiders own 60.04% of the company’s stock.

Samsara Price Performance

Shares of IOT stock opened at $49.51 on Monday. The stock’s fifty day moving average price is $48.61 and its 200 day moving average price is $40.93. Samsara Inc. has a 1-year low of $25.76 and a 1-year high of $53.98. The company has a market cap of $27.55 billion, a price-to-earnings ratio of -103.15 and a beta of 1.52.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate 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 for the quarter was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share. As a group, equities research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IOT shares. Craig Hallum assumed coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price for the company. Morgan Stanley increased their target price on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Wells Fargo & Company boosted their price target on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, Bank of America boosted their price objective on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Samsara has an average rating of “Hold” and an average price target of $44.20.

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.