Two Sigma Advisers LP Buys 348,500 Shares of Samsara Inc. (NYSE:IOT)

Two Sigma Advisers LP lifted its position in shares of Samsara Inc. (NYSE:IOT) by 102.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 687,100 shares of the company’s stock after purchasing an additional 348,500 shares during the period. Two Sigma Advisers LP’s holdings in Samsara were worth $33,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after acquiring an additional 6,411,178 shares in the last quarter. FMR LLC boosted its holdings in Samsara by 15.6% in the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after acquiring an additional 1,604,822 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after purchasing an additional 500,400 shares in the last quarter. Westfield Capital Management Co. LP grew its position in Samsara by 4.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after purchasing an additional 138,702 shares during the period. Finally, State Street Corp raised its holdings in Samsara by 4.7% during the third quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after buying an additional 95,006 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IOT has been the subject of several recent research reports. BNP Paribas initiated coverage on Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler increased their price target on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley raised their target price on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Finally, Craig Hallum initiated coverage on shares of Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.29.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 75,594 shares of Samsara stock in a transaction on Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the completion of the transaction, the chief executive officer now owns 120,292 shares of the company’s stock, valued at approximately $6,723,119.88. The trade was a 38.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Eltoukhy sold 5,008 shares of Samsara stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $47.30, for a total transaction of $236,878.40. Following the completion of the sale, the insider now directly owns 455,797 shares in the company, valued at $21,559,198.10. This represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,873,300 shares of company stock valued at $91,752,243 in the last ninety days. Company insiders own 60.04% of the company’s stock.

Samsara Price Performance

IOT stock opened at $52.27 on Friday. The company has a market capitalization of $29.08 billion, a PE ratio of -111.21 and a beta of 1.53. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $57.51. The firm’s 50-day moving average is $50.44 and its 200 day moving average is $42.40.

Samsara (NYSE:IOT) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $289.53 million. During the same period last year, the business posted ($0.11) EPS. The business’s revenue was up 36.9% compared to the same quarter last year. Sell-side analysts forecast that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Samsara Company 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.