Hanson & Doremus Investment Management Acquires 3,527 Shares of Samsara Inc. (NYSE:IOT)

Hanson & Doremus Investment Management lifted its position in Samsara Inc. (NYSE:IOT) by 4.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,937 shares of the company’s stock after purchasing an additional 3,527 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Samsara were worth $3,026,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its holdings in shares of Samsara by 47.2% in the first quarter. Exchange Traded Concepts LLC now owns 524,411 shares of the company’s stock worth $20,101,000 after purchasing an additional 168,064 shares during the period. Tcfg Wealth Management LLC bought a new position in shares of Samsara in the first quarter worth $213,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Samsara by 24.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 20,045 shares of the company’s stock worth $768,000 after purchasing an additional 3,956 shares during the period. Assenagon Asset Management S.A. grew its position in Samsara by 15.1% in the first quarter. Assenagon Asset Management S.A. now owns 10,344 shares of the company’s stock worth $396,000 after acquiring an additional 1,355 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Samsara by 15.3% in the first quarter. Handelsbanken Fonder AB now owns 61,100 shares of the company’s stock worth $2,342,000 after acquiring an additional 8,100 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IOT. Craig Hallum reiterated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Cowen reiterated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Piper Sandler reiterated an “overweight” rating and issued a $53.00 target price (up from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Samsara from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Raymond James initiated coverage on Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating on the stock. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Samsara Price Performance

Shares of IOT opened at $39.14 on Monday. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90. The company has a 50-day simple moving average of $42.29 and a two-hundred day simple moving average of $44.84. The firm has a market capitalization of $22.28 billion, a PE ratio of -83.28 and a beta of 1.74.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Samsara had a negative net margin of 21.80% and a negative return on equity of 19.44%. The business had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same period last year, the business posted $0.03 earnings per share. Samsara’s quarterly revenue was up 30.7% compared to the same quarter last year. Analysts expect that Samsara Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Samsara

In other Samsara news, insider Sanjit Biswas sold 160,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $34.89, for a total transaction of $5,582,400.00. Following the completion of the transaction, the insider now owns 108,000 shares of the company’s stock, valued at approximately $3,768,120. This trade represents a 59.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc L. Andreessen sold 399,026 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $41.33, for a total transaction of $16,491,744.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,060,283 shares of company stock valued at $86,586,131. Corporate insiders own 46.49% of the company’s stock.

Samsara Company 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.