Samsara (NYSE:IOT) Releases Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Samsara (NYSE:IOT) posted its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.13), Zacks reports. Samsara had a net margin of 3.32% and a return on equity of 2.00%.

Samsara Stock Up 5.3%

NYSE:IOT traded up $1.95 during mid-day trading on Thursday, hitting $38.74. 15,445,103 shares of the stock traded hands, compared to its average volume of 6,861,097. The business’s 50-day moving average price is $37.39 and its 200 day moving average price is $33.09. The company has a market cap of $22.57 billion, a PE ratio of 387.44, a price-to-earnings-growth ratio of 8.77 and a beta of 1.35. Samsara has a 12-month low of $23.38 and a 12-month high of $47.47.

Insiders Place Their Bets

In other Samsara news, insider Adam Eltoukhy sold 6,876 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $39.82, for a total value of $273,802.32. Following the completion of the transaction, the insider directly owned 425,080 shares of the company’s stock, valued at $16,926,685.60. This trade represents a 1.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjit Biswas sold 35,366 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $39.43, for a total transaction of $1,394,481.38. Following the transaction, the chief executive officer owned 935,671 shares of the company’s stock, valued at $36,893,507.53. This trade represents a 3.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,478,170 shares of company stock worth $159,242,120 in the last three months. 35.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently added to or reduced their stakes in IOT. Brighton Jones LLC bought a new stake in shares of Samsara in the 4th quarter worth approximately $13,464,000. Virtue Capital Management LLC bought a new position in shares of Samsara during the 4th quarter valued at $241,000. Cresset Asset Management LLC bought a new position in shares of Samsara during the 2nd quarter valued at $231,000. Voleon Capital Management LP purchased a new position in Samsara in the 3rd quarter worth $219,000. Finally, Orion Porfolio Solutions LLC purchased a new position in Samsara in the 4th quarter worth $205,000. 96.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Jefferies Financial Group raised shares of Samsara to a “buy” rating in a report on Thursday, June 11th. Piper Sandler cut shares of Samsara from an “overweight” rating to a “neutral” rating and set a $40.00 target price on the stock. in a report on Sunday, August 9th. Wolfe Research restated an “outperform” rating on shares of Samsara in a research report on Thursday, June 11th. Wells Fargo & Company raised their price target on Samsara from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Finally, Truist Financial lifted their price target on Samsara from $30.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.67.

About Samsara

Samsara develops an industrial Internet of Things (IoT) platform designed to help organizations monitor, manage, and optimize physical operations. The company combines connected hardware — including telematics devices, GPS trackers, dash cameras, and environmental sensors — with cloud-based software to provide real-time visibility into vehicles, mobile equipment, and fixed assets. Its software offers tools for fleet management, driver and worker safety, asset tracking, compliance (including electronic logging), maintenance scheduling, and operational analytics.

The Samsara platform emphasizes integration of live data streams with analytics and workflow features to drive efficiency and safety across industries that rely on dispersed equipment and mobile workforces.