Harbor Capital Advisors Inc. Acquires 44,246 Shares of Samsara Inc. (NYSE:IOT)

Harbor Capital Advisors Inc. raised its stake in shares of Samsara Inc. (NYSE:IOT) by 41.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,775 shares of the company’s stock after buying an additional 44,246 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Samsara were worth $7,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Samsara during the first quarter valued at $13,590,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Samsara by 14.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 317,713 shares of the company’s stock valued at $12,006,000 after purchasing an additional 41,200 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Samsara in the first quarter worth about $721,000. Nordea Investment Management AB bought a new stake in shares of Samsara in the first quarter worth about $306,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Samsara in the first quarter worth about $457,000. Institutional investors own 89.39% of the company’s stock.

Samsara Stock Performance

IOT opened at $46.22 on Friday. The stock’s 50 day moving average price is $46.62 and its 200-day moving average price is $39.66. Samsara Inc. has a one year low of $22.19 and a one year high of $51.53. The stock has a market cap of $25.72 billion, a price-to-earnings ratio of -96.29 and a beta of 1.52.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 company had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the prior year, the company posted ($0.11) EPS. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, analysts predict that Samsara Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on IOT shares. JPMorgan Chase & Co. lifted their price objective on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. StockNews.com cut shares of Samsara from a “hold” rating to a “sell” rating in a research report on Wednesday. Piper Sandler upped their price target on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Wells Fargo & Company lifted their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, BNP Paribas started coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.20.

Insider Activity at Samsara

In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares in the company, valued at $15,123,445.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Samsara news, CAO James Andrew Munk sold 1,093 shares of Samsara stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares of the company’s stock, valued at $15,123,445.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. Insiders sold 1,879,269 shares of company stock worth $83,386,415 in the last 90 days. 60.04% of the stock is owned by corporate insiders.

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.