UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Samsara Inc. (NYSE:IOT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Samsara Inc. (NYSE:IOT) by 12.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,099,347 shares of the company’s stock after selling 300,691 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.38% of Samsara worth $101,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its position in shares of Samsara by 6.8% in the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after acquiring an additional 497 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Samsara in the first quarter worth about $362,000. RFG Advisory LLC raised its stake in Samsara by 41.5% in the second quarter. RFG Advisory LLC now owns 12,486 shares of the company’s stock worth $421,000 after buying an additional 3,662 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Samsara by 165.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,848 shares of the company’s stock worth $534,000 after buying an additional 9,875 shares during the period. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Samsara during the 2nd quarter worth approximately $506,000. 89.39% of the stock is currently owned by institutional investors.

Samsara Price Performance

IOT stock opened at $53.49 on Monday. The stock has a market capitalization of $29.76 billion, a P/E ratio of -111.44 and a beta of 1.52. Samsara Inc. has a 1-year low of $26.86 and a 1-year high of $57.51. The business has a fifty day moving average price of $49.91 and a 200-day moving average price of $41.95.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. 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 note on Wednesday, November 20th. BNP Paribas began coverage on shares of Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets lifted their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Finally, TD Cowen upped their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.43.

Insiders Place Their Bets

In other news, CEO Sanjit Biswas sold 75,594 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 120,292 shares in the company, valued at $6,723,119.88. This represents a 38.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Bicket sold 75,600 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $55.89, for a total transaction of $4,225,284.00. Following the sale, the insider now owns 400,020 shares of the company’s stock, valued at $22,357,117.80. This trade represents a 15.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,809,695 shares of company stock valued at $85,445,322. Company insiders own 60.04% of the company’s stock.

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.