Zweig DiMenna Associates LLC Takes $4.96 Million Position in Samsara Inc. (NYSE:IOT)

Zweig DiMenna Associates LLC bought a new position in Samsara Inc. (NYSE:IOT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 103,000 shares of the company’s stock, valued at approximately $4,956,000.

Other institutional investors have also recently bought and sold shares of the company. Baillie Gifford & Co. grew its stake in shares of Samsara by 18.1% during the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock valued at $924,499,000 after buying an additional 4,207,974 shares during the period. 1832 Asset Management L.P. grew its position in Samsara by 102.1% during the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after acquiring an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after acquiring an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Samsara by 12.1% in 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. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Samsara in the 2nd quarter valued at about $29,464,000. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Stock Up 2.1 %

Shares of Samsara stock opened at $48.27 on Friday. The business has a 50-day moving average price of $45.58 and a 200 day moving average price of $38.89. Samsara Inc. has a fifty-two week low of $21.48 and a fifty-two week high of $51.53. The firm has a market cap of $26.59 billion, a P/E ratio of -96.76 and a beta of 1.52.

Samsara (NYSE:IOT) last issued 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. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same period in the previous year, the business earned ($0.11) EPS. The business’s quarterly revenue was up 36.9% on a year-over-year basis. 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

IOT has been the topic of several research reports. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets raised their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Piper Sandler lifted their target price on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Evercore ISI increased their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. Finally, Bank of America boosted their price objective on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $43.31.

Insider Buying and Selling

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was 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 of the company’s stock, valued at $15,123,445.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,945,061 shares of company stock worth $84,802,692 over the last quarter. 60.04% of the stock is owned by company insiders.

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.