Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Samsara Inc. (NYSE:IOT)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Samsara Inc. (NYSE:IOT) by 4.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 376,283 shares of the company’s stock after buying an additional 16,528 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Samsara were worth $18,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in shares of Samsara by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after acquiring an additional 280 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Samsara by 3.5% during the third 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 in the last quarter. UMB Bank n.a. grew its holdings in Samsara by 69.1% in 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 period. Resources Management Corp CT ADV increased its position in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares in the last quarter. Finally, Cetera Advisors LLC raised its stake in shares of Samsara by 6.8% during the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after buying an additional 497 shares during the period. 89.39% of the stock is owned by institutional investors and hedge funds.

Samsara Price Performance

Shares of IOT stock opened at $49.51 on Monday. The firm’s 50-day moving average is $48.61 and its two-hundred day moving average is $40.93. Samsara Inc. has a 12 month low of $25.76 and a 12 month high of $53.98. The company has a market capitalization of $27.55 billion, a PE ratio of -103.15 and a beta of 1.52.

Samsara (NYSE:IOT) last posted its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $289.53 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The firm’s quarterly 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 year.

Analyst Upgrades and Downgrades

IOT has been the subject of several recent analyst reports. Evercore ISI boosted their price target on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Loop Capital lifted their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler raised their target price on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, BNP Paribas initiated coverage on Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.20.

Insiders Place Their Bets

In related news, insider John Bicket sold 93,212 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the completion of the transaction, the insider now owns 76,800 shares of the company’s stock, valued at approximately $3,065,856. This trade represents a 54.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares in the company, valued at approximately $15,123,445.77. The trade was a 0.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,864,730 shares of company stock valued at $84,375,885 over the last 90 days. 60.04% of the stock is owned by company 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.