Arcadia Investment Management Corp MI Takes $289,000 Position in Samsara Inc. (NYSE:IOT)

Arcadia Investment Management Corp MI bought a new stake in Samsara Inc. (NYSE:IOT) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Samsara by 18.1% in 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 last quarter. Price T Rowe Associates Inc. MD grew its stake in Samsara by 18.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after buying an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. grew its stake in Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after buying an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after buying an additional 500,400 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in Samsara by 12.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after buying an additional 243,170 shares during the last quarter. 89.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IOT shares. TD Cowen upped their price target 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. Bank of America upped their price target 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. Truist Financial increased their target price on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a research report on Friday, September 6th. Craig Hallum started coverage on shares of Samsara in a research report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. Finally, StockNews.com lowered shares of Samsara from a “hold” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.20.

Insider Activity at Samsara

In related news, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Bicket sold 81,486 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total transaction of $3,018,241.44. Following the completion of the transaction, the insider now directly owns 96,000 shares of the company’s stock, valued at approximately $3,555,840. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,879,269 shares of company stock valued at $83,386,415 in the last quarter. Insiders own 60.04% of the company’s stock.

Samsara Trading Down 3.3 %

NYSE IOT opened at $46.22 on Friday. The firm’s 50 day simple moving average is $46.62 and its 200 day simple moving average is $39.66. Samsara Inc. has a 1 year low of $22.19 and a 1 year high of $51.53.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 36.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.11) EPS. Analysts anticipate 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.