Lmdagg L.L.C. Reduces Position in Samsara Inc. (NYSE:IOT)

Lmdagg L.L.C. lowered its position in shares of Samsara Inc. (NYSE:IOT) by 74.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 773,194 shares of the company’s stock after selling 2,194,947 shares during the period. Samsara accounts for approximately 100.0% of Lmdagg L.L.C.’s investment portfolio, making the stock its biggest holding. Lmdagg L.L.C. owned approximately 0.14% of Samsara worth $37,206,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of Samsara by 3.1% during the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after purchasing an additional 18,400 shares during the period. International Assets Investment Management LLC increased its stake in Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after acquiring an additional 10,452 shares during the period. Bank of Montreal Can bought a new position in Samsara during the 2nd quarter worth $537,000. Magnetar Financial LLC bought a new position in Samsara during the 2nd quarter worth $1,240,000. Finally, RFG Advisory LLC increased its stake in Samsara by 41.5% during the 2nd quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock worth $421,000 after acquiring an additional 3,662 shares during the period. Institutional investors own 89.39% of the company’s stock.

Insiders Place Their Bets

In other Samsara news, insider John Bicket sold 93,212 shares of Samsara stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the transaction, the insider now directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. The trade was a 54.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjit Biswas sold 93,107 shares of Samsara stock in a transaction dated 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 directly owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. This trade represents a 54.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,826,114 shares of company stock valued at $84,024,779. 60.04% of the stock is currently owned by company insiders.

Samsara Price Performance

NYSE IOT opened at $56.36 on Friday. Samsara Inc. has a twelve month low of $26.13 and a twelve month high of $56.76. The business’s fifty day moving average is $49.25 and its 200 day moving average is $41.41.

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

Analyst Ratings Changes

A number of research firms have commented on IOT. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Evercore ISI raised their price objective on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. TD Cowen raised their price objective on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Piper Sandler raised 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. Finally, BNP Paribas initiated coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.67.

Samsara 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.