abrdn plc Buys New Holdings in Samsara Inc. (NYSE:IOT)

abrdn plc purchased a new position in shares of Samsara Inc. (NYSE:IOT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,294 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Consolidated Portfolio Review Corp acquired a new stake in shares of Samsara in the third quarter worth $1,291,000. Zweig DiMenna Associates LLC acquired a new stake in Samsara during the 3rd quarter worth about $4,956,000. Assenagon Asset Management S.A. grew its position in Samsara by 3.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after purchasing an additional 304 shares during the period. Grassi Investment Management purchased a new position in shares of Samsara during the 3rd quarter valued at about $207,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Samsara by 2,787.2% in the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after buying an additional 10,452 shares during the period. 89.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Adam Eltoukhy sold 9,308 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total value of $471,357.12. Following the completion of the sale, the insider now directly owns 396,784 shares in the company, valued at $20,093,141.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total transaction of $14,894,042.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 9,308 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total transaction of $471,357.12. Following the completion of the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at $20,093,141.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,736,405 shares of company stock valued at $78,283,014 in the last ninety days. 60.04% of the stock is currently owned by corporate insiders.

Samsara Stock Performance

Shares of IOT opened at $48.23 on Wednesday. The stock has a 50 day moving average price of $46.72 and a 200 day moving average price of $39.83. The stock has a market capitalization of $26.83 billion, a price-to-earnings ratio of -100.48 and a beta of 1.52. Samsara Inc. has a one year low of $23.12 and a one year high of $51.53.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Evercore ISI lifted their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Craig Hallum began coverage on shares of Samsara in a research note on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price for the company. Bank of America raised their price target on shares of Samsara from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, September 6th. BNP Paribas assumed coverage on shares of Samsara in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price objective for the company. Finally, Morgan Stanley raised their target price on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.20.

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.