Samsara (NYSE:IOT) Announces Quarterly Earnings Results

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

Samsara Trading Up 5.3%

Shares of NYSE:IOT traded up $1.95 during midday trading on Thursday, hitting $38.74. 15,267,160 shares of the stock were exchanged, compared to its average volume of 6,861,097. Samsara has a twelve month low of $23.38 and a twelve month high of $47.47. The company has a 50 day moving average price of $37.39 and a 200-day moving average price of $33.09. The stock has a market cap of $22.57 billion, a P/E ratio of 387.44, a PEG ratio of 8.77 and a beta of 1.35.

Insider Activity at Samsara

In other Samsara news, insider John Bicket sold 34,557 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $39.44, for a total transaction of $1,362,928.08. Following the sale, the insider owned 1,134,795 shares in the company, valued at approximately $44,756,314.80. This represents a 2.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Adam Eltoukhy sold 6,876 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $39.82, for a total value of $273,802.32. Following the transaction, the insider directly owned 425,080 shares of the company’s stock, valued at $16,926,685.60. The trade was a 1.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 4,478,170 shares of company stock valued at $159,242,120. Insiders own 35.13% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently modified their holdings of IOT. State Street Corp boosted its position in Samsara by 15.8% during the fourth quarter. State Street Corp now owns 6,920,219 shares of the company’s stock worth $245,322,000 after acquiring an additional 944,485 shares during the last quarter. Wellington Management Group LLP grew its stake in Samsara by 97.1% in the 4th quarter. Wellington Management Group LLP now owns 6,269,398 shares of the company’s stock worth $222,250,000 after acquiring an additional 3,088,299 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Samsara by 16.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,270,663 shares of the company’s stock valued at $115,945,000 after acquiring an additional 470,054 shares during the last quarter. Amundi lifted its stake in shares of Samsara by 12.4% during the 4th quarter. Amundi now owns 2,381,578 shares of the company’s stock worth $84,427,000 after purchasing an additional 263,127 shares during the period. Finally, Spyglass Capital Management LLC lifted its stake in shares of Samsara by 6.7% during the 4th quarter. Spyglass Capital Management LLC now owns 2,346,995 shares of the company’s stock worth $83,201,000 after purchasing an additional 146,830 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IOT shares. Jefferies Financial Group raised shares of Samsara to a “buy” rating in a research note on Thursday, June 11th. Piper Sandler cut shares of 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. BTIG Research reissued a “buy” rating and set a $45.00 price objective on shares of Samsara in a report on Friday, June 26th. Wells Fargo & Company upped their target price on shares of Samsara from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, KeyCorp lifted their price target on shares of Samsara from $41.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Samsara currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.67.

Samsara Company Profile

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.