SlateStone Wealth LLC Acquires Shares of 27,000 Samsara Inc. (NYSE:IOT)

SlateStone Wealth LLC acquired a new stake in Samsara Inc. (NYSE:IOT) in the fourth quarter, Holdings Channel reports. The fund acquired 27,000 shares of the company’s stock, valued at approximately $901,000.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Samsara by 40.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,656 shares of the company’s stock valued at $22,428,000 after buying an additional 254,473 shares in the last quarter. Creative Planning acquired a new position in shares of Samsara in the 3rd quarter valued at approximately $5,878,000. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Samsara in the 4th quarter valued at approximately $854,000. Principal Financial Group Inc. raised its position in shares of Samsara by 608.4% in the 3rd quarter. Principal Financial Group Inc. now owns 745,565 shares of the company’s stock valued at $18,796,000 after buying an additional 640,321 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Samsara by 54.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 105,316 shares of the company’s stock valued at $2,656,000 after buying an additional 37,316 shares in the last quarter. Institutional investors own 89.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on IOT. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Loop Capital started coverage on shares of Samsara in a research report on Thursday, April 18th. They set a “buy” rating and a $42.00 price objective for the company. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Samsara currently has an average rating of “Moderate Buy” and an average price target of $32.60.

Insider Buying and Selling at Samsara

In other news, insider John Bicket sold 92,190 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $31.93, for a total value of $2,943,626.70. Following the sale, the insider now directly owns 655,982 shares of the company’s stock, valued at approximately $20,945,505.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sanjit Biswas sold 92,216 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $31.93, for a total transaction of $2,944,456.88. Following the transaction, the chief executive officer now directly owns 662,119 shares of the company’s stock, valued at $21,141,459.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Bicket sold 92,190 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $31.93, for a total transaction of $2,943,626.70. Following the transaction, the insider now directly owns 655,982 shares in the company, valued at $20,945,505.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,601,460 shares of company stock worth $55,157,505. 66.14% of the stock is currently owned by company insiders.

Samsara Stock Up 7.7 %

NYSE IOT traded up $2.40 on Tuesday, hitting $33.75. The company’s stock had a trading volume of 2,638,691 shares, compared to its average volume of 3,640,132. Samsara Inc. has a 1-year low of $16.63 and a 1-year high of $40.54. The company’s 50-day moving average is $34.67 and its 200 day moving average is $31.32. The firm has a market cap of $18.58 billion, a PE ratio of -63.34 and a beta of 1.56.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. The firm had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $258.56 million. On average, equities analysts expect that Samsara Inc. will post -0.4 EPS for the current year.

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.