General Catalyst Group Management LLC Reduces Holdings in Samsara Inc. (NYSE:IOT)

General Catalyst Group Management LLC cut its holdings in shares of Samsara Inc. (NYSE:IOT) by 11.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,297,056 shares of the company’s stock after selling 3,000,000 shares during the period. Samsara makes up 78.3% of General Catalyst Group Management LLC’s holdings, making the stock its biggest holding. General Catalyst Group Management LLC’s holdings in Samsara were worth $1,121,054,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in IOT. Advisors Asset Management Inc. lifted its stake in Samsara by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after acquiring an additional 280 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after purchasing an additional 304 shares in the last quarter. UMB Bank n.a. boosted its holdings in Samsara by 69.1% during 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 last quarter. Resources Management Corp CT ADV grew its position in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares in the last quarter. Finally, Cetera Advisors LLC increased its stake in Samsara by 6.8% in the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after buying an additional 497 shares during the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

Insiders Place Their Bets

In other news, insider John Bicket sold 64,137 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $47.48, for a total transaction of $3,045,224.76. Following the completion of the transaction, the insider now directly owns 41,288 shares in the company, valued at $1,960,354.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider John Bicket sold 64,137 shares of Samsara stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,045,224.76. Following the completion of the sale, the insider now owns 41,288 shares in the company, valued at approximately $1,960,354.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 78,295 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.50, for a total transaction of $3,170,947.50. Following the completion of the sale, the chief executive officer now directly owns 908,004 shares in the company, valued at $36,774,162. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,864,730 shares of company stock worth $84,375,885 in the last three months. 60.04% of the stock is currently owned by corporate insiders.

Samsara Price Performance

Samsara stock opened at $51.61 on Thursday. The firm has a market capitalization of $28.71 billion, a P/E ratio of -110.08 and a beta of 1.52. Samsara Inc. has a one year low of $25.76 and a one year high of $53.98. The business has a fifty day moving average price of $48.26 and a 200-day moving average price of $40.68.

Samsara (NYSE:IOT) last posted its 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 analyst estimates of $289.53 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. Sell-side analysts expect that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on IOT. Piper Sandler upped their target price on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. JPMorgan Chase & Co. upped their price objective on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Craig Hallum started coverage on Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. Evercore ISI increased their price target on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Finally, Morgan Stanley lifted their price objective on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, September 6th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $44.20.

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.