SlateStone Wealth LLC Invests $901,000 in Samsara Inc. (NYSE:IOT)

SlateStone Wealth LLC bought a new position in shares of Samsara Inc. (NYSE:IOT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,000 shares of the company’s stock, valued at approximately $901,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Samsara by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after acquiring an additional 381 shares during the last quarter. Ulland Investment Advisors LLC boosted its position in shares of Samsara by 67.4% during the third quarter. Ulland Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $38,000 after buying an additional 600 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in Samsara by 1.8% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 46,181 shares of the company’s stock worth $1,164,000 after purchasing an additional 807 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Samsara by 1.5% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 65,745 shares of the company’s stock valued at $1,657,000 after buying an additional 951 shares in the last quarter. Finally, Fred Alger Management LLC bought a new position in shares of Samsara in the third quarter valued at $28,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 92,216 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 662,119 shares in the company, valued at $21,141,459.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Adam Eltoukhy sold 10,422 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $30.78, for a total value of $320,789.16. Following the completion of the sale, the insider now owns 535,149 shares in the company, valued at $16,471,886.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 92,216 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 662,119 shares of the company’s stock, valued at approximately $21,141,459.67. The disclosure for this sale can be found here. Insiders sold 1,601,460 shares of company stock worth $55,157,505 over the last ninety days. Company insiders own 66.14% of the company’s stock.

Samsara Price Performance

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

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

Analyst Ratings Changes

Several brokerages have issued reports on IOT. Loop Capital began coverage on shares of Samsara in a research note on Thursday, April 18th. They set a “buy” rating and a $42.00 target price on the stock. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

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.