Left Brain Wealth Management LLC Has $391,000 Stake in Samsara Inc. (NYSE:IOT)

Left Brain Wealth Management LLC lifted its position in shares of Samsara Inc. (NYSE:IOT) by 45.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,200 shares of the company’s stock after buying an additional 3,200 shares during the period. Left Brain Wealth Management LLC’s holdings in Samsara were worth $391,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Samsara by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after acquiring an additional 863,197 shares in the last quarter. FMR LLC boosted its holdings in Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after purchasing an additional 2,852,575 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Samsara by 107.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock valued at $181,045,000 after purchasing an additional 2,148,081 shares in the last quarter. Invesco Ltd. increased its stake in Samsara by 13.7% in the 4th quarter. Invesco Ltd. now owns 3,476,945 shares of the company’s stock valued at $151,908,000 after buying an additional 419,163 shares during the last quarter. Finally, Norges Bank bought a new stake in Samsara during the 4th quarter worth about $106,274,000. 96.02% of the stock is currently owned by institutional investors.

Samsara Price Performance

Shares of IOT opened at $37.31 on Friday. The company’s 50-day moving average is $42.58 and its 200-day moving average is $43.55. The firm has a market capitalization of $21.24 billion, a PE ratio of -169.59 and a beta of 1.63. Samsara Inc. has a fifty-two week low of $31.40 and a fifty-two week high of $61.90.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Samsara had a negative net margin of 9.04% and a negative return on equity of 11.14%. The firm had revenue of $366.88 million for the quarter, compared to analysts’ expectations of $351.44 million. During the same period in the prior year, the firm earned $0.03 EPS. The business’s revenue was up 30.7% on a year-over-year basis. Analysts predict that Samsara Inc. will post -0.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. Piper Sandler set a $53.00 price target on Samsara and gave the company an “overweight” rating in a research report on Wednesday, June 25th. Evercore ISI set a $45.00 price target on Samsara in a research report on Wednesday, June 25th. Morgan Stanley dropped their price objective on Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen cut shares of Samsara from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.64.

Insider Buying and Selling at Samsara

In other news, insider Dominic Phillips sold 47,334 shares of the business’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $39.21, for a total value of $1,855,966.14. Following the completion of the sale, the insider owned 793,735 shares of the company’s stock, valued at approximately $31,122,349.35. The trade was a 5.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan Chadwick sold 22,500 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $39.07, for a total transaction of $879,075.00. Following the transaction, the director directly owned 37,494 shares in the company, valued at approximately $1,464,890.58. This represents a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,532,323 shares of company stock worth $105,452,742 in the last 90 days. Company insiders own 46.49% of the company’s stock.

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.