5,491 Shares in Samsara Inc. (NYSE:IOT) Bought by CIBC Asset Management Inc

CIBC Asset Management Inc purchased a new position in shares of Samsara Inc. (NYSE:IOT) in the 3rd quarter, Holdings Channel reports. The firm purchased 5,491 shares of the company’s stock, valued at approximately $264,000.

Other large investors have also recently bought and sold shares of the company. Resources Management Corp CT ADV grew its position in shares of Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Samsara by 69.1% in the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after purchasing an additional 418 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Samsara in the second quarter valued at about $38,000. Nemes Rush Group LLC purchased a new position in shares of Samsara in the 2nd quarter worth approximately $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after buying an additional 1,000 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IOT has been the subject of several research reports. Royal Bank of Canada increased their price target on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, September 6th. Piper Sandler boosted their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. BMO Capital Markets raised their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. BNP Paribas started coverage on shares of Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price objective for the company. Finally, StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Samsara has an average rating of “Hold” and a consensus price target of $45.67.

Insider Activity

In other Samsara news, CEO Sanjit Biswas sold 84,030 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the sale, the chief executive officer now directly owns 806,269 shares in the company, valued at $33,814,921.86. This represents a 9.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares in the company, valued at $15,123,445.77. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,826,114 shares of company stock worth $84,024,779 in the last three months. Company insiders own 60.04% of the company’s stock.

Samsara Price Performance

Shares of IOT opened at $56.36 on Friday. Samsara Inc. has a one year low of $26.13 and a one year high of $56.76. The firm has a market capitalization of $31.36 billion, a P/E ratio of -117.42 and a beta of 1.52. The business has a fifty day moving average of $49.25 and a 200 day moving average of $41.41.

Samsara (NYSE:IOT) last released its quarterly earnings results 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 business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. Samsara’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Analysts expect that Samsara Inc. will post -0.34 EPS for the current fiscal 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.