Samsara (NYSE:IOT) Issues Earnings Results, Misses Expectations By $0.13 EPS

Samsara (NYSE:IOT) released its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.13), Zacks reports. Samsara had a return on equity of 2.00% and a net margin of 3.32%.

Samsara Trading Up 5.3%

Samsara stock traded up $1.95 during midday trading on Thursday, hitting $38.74. The stock had a trading volume of 15,267,160 shares, compared to its average volume of 6,861,097. The business has a fifty day moving average price of $37.39 and a 200 day moving average price of $33.09. Samsara has a 12 month low of $23.38 and a 12 month high of $47.47. The stock has a market cap of $22.57 billion, a P/E ratio of 387.44, a P/E/G ratio of 8.77 and a beta of 1.35.

Insiders Place Their Bets

In other news, insider John Bicket sold 245,925 shares of Samsara stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $36.77, for a total value of $9,042,662.25. Following the completion of the transaction, the insider owned 94,000 shares in the company, valued at approximately $3,456,380. This trade represents a 72.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjit Biswas sold 244,805 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $36.77, for a total value of $9,001,479.85. Following the completion of the sale, the chief executive officer owned 94,000 shares of the company’s stock, valued at $3,456,380. This trade represents a 72.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 4,478,170 shares of company stock valued at $159,242,120 in the last quarter. Insiders own 35.13% of the company’s stock.

Institutional Trading of Samsara

Several institutional investors have recently added to or reduced their stakes in IOT. Brighton Jones LLC bought a new position in shares of Samsara in the 4th quarter worth about $13,464,000. Royal Bank of Canada grew its position in shares of Samsara by 100.3% during the 1st quarter. Royal Bank of Canada now owns 96,142 shares of the company’s stock valued at $3,686,000 after buying an additional 48,135 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Samsara by 2,444.6% during the first quarter. Jones Financial Companies Lllp now owns 17,787 shares of the company’s stock worth $682,000 after acquiring an additional 17,088 shares during the period. Empowered Funds LLC lifted its holdings in Samsara by 3.4% in the first quarter. Empowered Funds LLC now owns 10,168 shares of the company’s stock worth $390,000 after acquiring an additional 335 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Samsara by 142.4% in the second quarter. Marshall Wace LLP now owns 68,860 shares of the company’s stock valued at $2,739,000 after acquiring an additional 40,450 shares during the period. Institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on IOT shares. Wells Fargo & Company lifted their target price on Samsara from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Piper Sandler lowered Samsara from an “overweight” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research note on Sunday, August 9th. Wolfe Research restated an “outperform” rating on shares of Samsara in a report on Thursday, June 11th. Truist Financial upped their target price on Samsara from $30.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, August 19th. Finally, Royal Bank Of Canada increased their target price on Samsara from $42.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Samsara has an average rating of “Moderate Buy” and an average target price of $46.67.

About Samsara

Samsara develops an industrial Internet of Things (IoT) platform designed to help organizations monitor, manage, and optimize physical operations. The company combines connected hardware — including telematics devices, GPS trackers, dash cameras, and environmental sensors — with cloud-based software to provide real-time visibility into vehicles, mobile equipment, and fixed assets. Its software offers tools for fleet management, driver and worker safety, asset tracking, compliance (including electronic logging), maintenance scheduling, and operational analytics.

The Samsara platform emphasizes integration of live data streams with analytics and workflow features to drive efficiency and safety across industries that rely on dispersed equipment and mobile workforces.