Connor Clark & Lunn Investment Management Ltd. Invests $697,000 in Samsara Inc. (NYSE:IOT)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Samsara Inc. (NYSE:IOT) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 14,477 shares of the company’s stock, valued at approximately $697,000.

Several other hedge funds have also recently bought and sold shares of the business. Resources Management Corp CT ADV raised its position in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the period. National Bank of Canada FI acquired a new position in Samsara during the 2nd quarter worth $38,000. Nemes Rush Group LLC bought a new stake in Samsara during the second quarter valued at about $45,000. UMB Bank n.a. increased its stake 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 worth $49,000 after purchasing an additional 418 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares during the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Samsara

In other Samsara news, CEO Sanjit Biswas sold 93,107 shares of Samsara stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,716,831.44. Following the completion of the transaction, the chief executive officer now owns 76,800 shares in the company, valued at approximately $3,065,856. The trade was a 54.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Bicket sold 93,212 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total value of $3,721,023.04. Following the sale, the insider now owns 76,800 shares in the company, valued at $3,065,856. The trade was a 54.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,809,695 shares of company stock valued at $85,445,322 in the last three months. 60.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on IOT. Royal Bank of Canada lifted their price target on Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Loop Capital raised their price target on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Wells Fargo & Company upped their price objective on shares of Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Morgan Stanley lifted their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Finally, BNP Paribas initiated coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Samsara presently has an average rating of “Hold” and a consensus target price of $45.67.

Samsara Stock Performance

Shares of NYSE IOT opened at $53.74 on Friday. Samsara Inc. has a 52-week low of $26.13 and a 52-week high of $57.51. The business has a fifty day moving average of $49.83 and a two-hundred day moving average of $41.84. The stock has a market cap of $29.90 billion, a PE ratio of -111.96 and a beta of 1.52.

Samsara (NYSE:IOT) last announced 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 firm had revenue of $300.20 million during 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 firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period last year, the firm posted ($0.11) EPS. Analysts predict that Samsara Inc. will post -0.34 earnings per share 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.