Westfield Capital Management Co. LP Raises Stock Holdings in Samsara Inc. (NYSE:IOT)

Westfield Capital Management Co. LP increased its stake in shares of Samsara Inc. (NYSE:IOT) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,506,681 shares of the company’s stock after purchasing an additional 138,702 shares during the quarter. Samsara accounts for 0.8% of Westfield Capital Management Co. LP’s holdings, making the stock its 26th biggest holding. Westfield Capital Management Co. LP’s holdings in Samsara were worth $168,741,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Swedbank AB increased its position in shares of Samsara by 288.9% during the 3rd quarter. Swedbank AB now owns 12,080 shares of the company’s stock valued at $581,000 after purchasing an additional 8,974 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of Samsara by 147.5% during the 3rd quarter. Penserra Capital Management LLC now owns 57,934 shares of the company’s stock valued at $2,787,000 after purchasing an additional 34,525 shares during the last quarter. Pitcairn Co. increased its position in shares of Samsara by 56.1% during the 3rd quarter. Pitcairn Co. now owns 13,032 shares of the company’s stock valued at $627,000 after purchasing an additional 4,682 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Samsara by 55.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock valued at $88,013,000 after purchasing an additional 650,982 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Samsara during the 3rd quarter valued at approximately $644,000. Institutional investors own 89.39% of the company’s stock.

Samsara Price Performance

Shares of NYSE IOT opened at $56.35 on Friday. The stock has a market capitalization of $31.35 billion, a P/E ratio of -117.40 and a beta of 1.52. Samsara Inc. has a 1-year low of $26.13 and a 1-year high of $56.76. The business has a fifty day moving average price of $49.25 and a 200 day moving average price of $41.43.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.11) EPS. As a group, equities research analysts anticipate that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on IOT shares. JPMorgan Chase & Co. boosted their target price on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. BMO Capital Markets upped their price objective on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Piper Sandler upped their price objective on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Truist Financial upped their price objective on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Finally, Morgan Stanley upped their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Samsara currently has an average rating of “Hold” and a consensus price target of $45.67.

Insider Buying and Selling at Samsara

In other news, insider Adam Eltoukhy sold 12,500 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $55.05, for a total value of $688,125.00. Following the transaction, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $21,842,959.20. This represents a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 84,030 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $41.94, for a total value of $3,524,218.20. Following the completion of the transaction, the chief executive officer now directly owns 806,269 shares in the company, valued at $33,814,921.86. This represents a 9.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,826,114 shares of company stock worth $84,024,779. 60.04% of the stock is owned by 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.