Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Stock Position in Samsara Inc. (NYSE:IOT)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Samsara Inc. (NYSE:IOT) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,389 shares of the company’s stock after purchasing an additional 644 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Samsara were worth $2,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of IOT. Zurcher Kantonalbank Zurich Cantonalbank boosted 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 valued at $53,000 after buying an additional 381 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of 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 acquiring an additional 807 shares during the period. Fred Alger Management LLC purchased a new position in shares of Samsara during the third quarter valued at approximately $28,000. Vanguard Personalized Indexing Management LLC lifted its position in Samsara by 17.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,764 shares of the company’s stock valued at $347,000 after purchasing an additional 1,995 shares during the period. Finally, Spouting Rock Asset Management LLC boosted its holdings in Samsara by 13.0% in the third quarter. Spouting Rock Asset Management LLC now owns 18,609 shares of the company’s stock worth $469,000 after purchasing an additional 2,144 shares during the last quarter. Institutional investors own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on IOT. Loop Capital started coverage on Samsara in a report on Thursday, April 18th. They set 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 report on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Insider Buying and Selling at Samsara

In related news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $32.92, for a total transaction of $3,160,320.00. Following the sale, the chief executive officer now owns 562,335 shares of the company’s stock, valued at approximately $18,512,068.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Samsara news, 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 value of $3,160,320.00. Following the sale, the chief executive officer now owns 562,335 shares in the company, valued at approximately $18,512,068.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lara Caimi sold 19,379 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $39.00, for a total value of $755,781.00. Following the transaction, the insider now owns 1,196,989 shares of the company’s stock, valued at approximately $46,682,571. The disclosure for this sale can be found here. Insiders have sold a total of 1,538,320 shares of company stock valued at $54,015,412 over the last ninety days. 66.14% of the stock is currently owned by company insiders.

Samsara Price Performance

Shares of IOT stock traded down $0.70 during trading hours on Tuesday, reaching $38.28. 2,297,026 shares of the company traded hands, compared to its average volume of 3,597,140. The firm has a 50-day moving average price of $35.14 and a 200 day moving average price of $32.12. The company has a market cap of $21.07 billion, a P/E ratio of -72.22 and a beta of 1.58. Samsara Inc. has a 12-month low of $18.05 and a 12-month high of $40.54.

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