Quadrature Capital Ltd Grows Stake in Samsara Inc. (NYSE:IOT)

Quadrature Capital Ltd lifted its stake in shares of Samsara Inc. (NYSE:IOT) by 11.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 19,570 shares of the company’s stock after buying an additional 2,031 shares during the quarter. Quadrature Capital Ltd’s holdings in Samsara were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Resources Management Corp CT ADV increased its position in Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the last quarter. National Bank of Canada FI purchased a new stake in Samsara in the 2nd quarter worth about $38,000. Nemes Rush Group LLC bought a new stake in Samsara in the 2nd quarter valued at about $45,000. UMB Bank n.a. lifted 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 valued at $49,000 after purchasing an additional 418 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on IOT shares. Truist Financial boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America increased their price objective on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, TD Cowen lifted their target price on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.29.

Insider Transactions at Samsara

In other Samsara news, major shareholder Sanjit Biswas sold 83,333 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $53.81, for a total transaction of $4,484,148.73. Following the completion of the sale, the insider now directly owns 19,200 shares in the company, valued at approximately $1,033,152. This trade represents a 81.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 5,008 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.30, for a total transaction of $236,878.40. Following the completion of the transaction, the insider now owns 455,797 shares in the company, valued at approximately $21,559,198.10. This represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,873,300 shares of company stock valued at $91,752,243 in the last quarter. 60.04% of the stock is owned by insiders.

Samsara Stock Performance

Shares of NYSE IOT opened at $52.27 on Friday. The company has a 50 day simple moving average of $50.44 and a two-hundred day simple moving average of $42.40. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of -111.21 and a beta of 1.53.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) 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 analysts’ expectations of $289.53 million. During the same quarter in the previous year, the business earned ($0.11) earnings per share. The firm’s quarterly revenue was up 36.9% compared to the same quarter last year. On average, analysts forecast that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

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.