Zweig DiMenna Associates LLC Invests $4.96 Million in Samsara Inc. (NYSE:IOT)

Zweig DiMenna Associates LLC acquired a new stake in shares of Samsara Inc. (NYSE:IOT) during the third quarter, HoldingsChannel reports. The firm acquired 103,000 shares of the company’s stock, valued at approximately $4,956,000.

Several other institutional investors have also bought and sold shares of the stock. Baillie Gifford & Co. raised its position in shares of Samsara by 18.1% during the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of Samsara by 102.1% during the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after acquiring an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after purchasing an additional 2,797,326 shares in the last quarter. Vanguard Group Inc. lifted its position in Samsara by 12.1% in the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Samsara during the 2nd quarter valued at $29,464,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on IOT shares. Truist Financial upped their price objective on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. Loop Capital upped their price target on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on shares of Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Wolfe Research restated an “outperform” rating and set a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.31.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 65,605 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total value of $2,415,576.10. Following the completion of the sale, the chief executive officer now owns 1,112,694 shares in the company, valued at $40,969,393.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sanjit Biswas sold 65,605 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the transaction, the chief executive officer now directly owns 1,112,694 shares in the company, valued at $40,969,393.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Bicket sold 65,632 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $36.82, for a total transaction of $2,416,570.24. Following the completion of the transaction, the insider now directly owns 1,478,408 shares in the company, valued at $54,434,982.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,945,061 shares of company stock worth $84,802,692. 60.04% of the stock is owned by company insiders.

Samsara Trading Up 2.1 %

Shares of IOT stock opened at $48.27 on Friday. Samsara Inc. has a 1-year low of $21.48 and a 1-year high of $51.53. The company has a market capitalization of $26.59 billion, a price-to-earnings ratio of -96.76 and a beta of 1.52. The stock’s fifty day simple moving average is $45.58 and its 200-day simple moving average is $38.89.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. During the same period last year, the company posted ($0.11) EPS. On average, sell-side analysts predict that Samsara Inc. will post -0.34 EPS for the current year.

Samsara Profile

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.