Fred Alger Management LLC Boosts Holdings in Samsara Inc. (NYSE:IOT)

Fred Alger Management LLC grew its position in Samsara Inc. (NYSE:IOT) by 314.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,389 shares of the company’s stock after purchasing an additional 10,915 shares during the period. Fred Alger Management LLC’s holdings in Samsara were worth $692,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IOT. Baillie Gifford & Co. grew its stake in Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after buying an additional 6,411,178 shares during the last quarter. FMR LLC grew its stake in shares of Samsara by 15.6% during 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 during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Samsara during the second quarter valued at about $29,464,000. Charles Schwab Investment Management Inc. boosted its stake in Samsara by 55.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock worth $88,013,000 after purchasing an additional 650,982 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in Samsara by 6.6% during 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 during the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on IOT shares. Truist Financial lifted their price objective on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company lifted their price target on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Loop Capital raised their price objective on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. BMO Capital Markets increased their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Samsara has a consensus rating of “Hold” and a consensus price target of $46.43.

Samsara Trading Down 0.5 %

Shares of IOT opened at $53.49 on Monday. The firm has a market cap of $29.76 billion, a P/E ratio of -111.44 and a beta of 1.52. The stock’s 50 day moving average is $49.91 and its two-hundred day moving average is $41.95. Samsara Inc. has a 12 month low of $26.86 and a 12 month high of $57.51.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) EPS. Equities research analysts forecast that Samsara Inc. will post -0.34 EPS for the current year.

Insider Activity at Samsara

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjit Biswas sold 93,107 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $39.92, for a total value of $3,716,831.44. Following the completion of the transaction, the chief executive officer now owns 76,800 shares in the company, valued at $3,065,856. The trade was a 54.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,809,695 shares of company stock valued at $85,445,322. 60.04% of the stock is owned by corporate 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.