Samsara Inc. (NYSE:IOT) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC reduced its stake in shares of Samsara Inc. (NYSE:IOT) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,081 shares of the company’s stock after selling 22,520 shares during the quarter. TimesSquare Capital Management LLC owned about 0.11% of Samsara worth $20,398,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC purchased a new position in Samsara in the third quarter valued at about $28,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after buying an additional 381 shares during the last quarter. a16z Perennial Management L.P. purchased a new stake in Samsara in the fourth quarter valued at approximately $86,000. International Assets Investment Management LLC acquired a new position in shares of Samsara in the 4th quarter valued at $162,000. Finally, Stonegate Investment Group LLC acquired a new stake in shares of Samsara during the 4th quarter worth $229,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analysts Set New Price Targets

IOT has been the topic of several research reports. Loop Capital began coverage on shares of Samsara in a report on Thursday, April 18th. They issued a “buy” rating and a $42.00 price target on the stock. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $32.92, for a total value of $3,160,320.00. Following the completion of the transaction, the chief executive officer now owns 562,335 shares of the company’s stock, valued at $18,512,068.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Samsara news, insider Adam Eltoukhy sold 9,344 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $34.75, for a total value of $324,704.00. Following the sale, the insider now directly owns 431,439 shares of the company’s stock, valued at $14,992,505.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $32.92, for a total transaction of $3,160,320.00. Following the transaction, the chief executive officer now directly owns 562,335 shares of the company’s stock, valued at approximately $18,512,068.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,681,107 shares of company stock valued at $59,465,592. Corporate insiders own 66.14% of the company’s stock.

Samsara Trading Up 0.6 %

IOT stock traded up $0.23 during mid-day trading on Friday, hitting $39.98. 357,391 shares of the company were exchanged, compared to its average volume of 3,535,509. The firm has a fifty day simple moving average of $35.44 and a 200 day simple moving average of $32.32. The company has a market capitalization of $22.01 billion, a PE ratio of -74.96 and a beta of 1.58. Samsara Inc. has a twelve month low of $18.24 and a twelve month high of $40.69.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. The business had revenue of $276.27 million during the quarter, compared to the consensus estimate of $258.56 million. As a group, sell-side analysts anticipate that Samsara Inc. will post -0.4 earnings per share 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.