Samsara Inc. (NYSE:IOT) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd cut its stake in shares of Samsara Inc. (NYSE:IOT) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,059 shares of the company’s stock after selling 2,181 shares during the quarter. Plato Investment Management Ltd’s holdings in Samsara were worth $1,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Baillie Gifford & Co. grew its stake in shares of Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Samsara by 18.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after purchasing an additional 2,797,326 shares during the period. Vanguard Group Inc. grew its stake in shares of Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares during the period. 1832 Asset Management L.P. grew its stake in shares of Samsara by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after purchasing an additional 500,400 shares during the period. Finally, Westfield Capital Management Co. LP grew its stake in shares of Samsara by 12.2% during the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after purchasing an additional 243,170 shares during the period. 89.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Samsara

In other news, 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 completion of the transaction, the insider now owns 1,273,912 shares of the company’s stock, valued at approximately $51,606,175.12. The trade was a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 directly owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. This trade represents a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,864,730 shares of company stock valued at $84,375,885 over the last 90 days. 60.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on IOT. TD Cowen increased their price objective on shares of Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 11th. 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 research note on Friday, September 6th. Bank of America increased their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Loop Capital upped their target price on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $44.20.

Samsara Stock Performance

NYSE IOT opened at $50.89 on Friday. Samsara Inc. has a one year low of $25.76 and a one year high of $53.98. The company’s 50 day moving average price is $48.26 and its 200 day moving average price is $40.68.

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

About Samsara

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.