Readystate Asset Management LP Invests $998,000 in Samsara Inc. (NYSE:IOT)

Readystate Asset Management LP acquired a new position in Samsara Inc. (NYSE:IOT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 29,910 shares of the company’s stock, valued at approximately $998,000.

Several other hedge funds have also recently made changes to their positions in the business. Quarry LP bought a new position in shares of Samsara in the 4th quarter worth about $37,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Samsara in the 4th quarter worth about $233,000. Employees Retirement System of Texas bought a new position in shares of Samsara in the 4th quarter worth about $402,000. Legal & General Group Plc grew its stake in shares of Samsara by 2.5% in the 4th quarter. Legal & General Group Plc now owns 628,683 shares of the company’s stock valued at $20,985,000 after buying an additional 15,366 shares during the period. Finally, Barclays PLC grew its stake in shares of Samsara by 20.7% in the 4th quarter. Barclays PLC now owns 14,760 shares of the company’s stock valued at $493,000 after buying an additional 2,531 shares during the period. 89.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $30.73, for a total value of $2,950,080.00. Following the completion of the transaction, the chief executive officer now directly owns 1,115,921 shares in the company, valued at $34,292,252.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider John Bicket sold 92,190 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 value of $2,943,626.70. Following the completion of the transaction, the insider now directly owns 655,982 shares of the company’s stock, valued at $20,945,505.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $30.73, for a total transaction of $2,950,080.00. Following the completion of the transaction, the chief executive officer now directly owns 1,115,921 shares of the company’s stock, valued at $34,292,252.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,697,460 shares of company stock worth $58,277,505. Corporate insiders own 66.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Loop Capital assumed coverage on Samsara in a research note on Thursday. They issued a “buy” rating and a $42.00 target price for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara has an average rating of “Hold” and an average price target of $32.60.

Samsara Stock Up 0.2 %

IOT stock traded up $0.05 during mid-day trading on Thursday, reaching $31.02. 3,380,095 shares of the company traded hands, compared to its average volume of 3,681,924. The firm’s 50 day moving average price is $34.84 and its 200 day moving average price is $31.15. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of -58.53 and a beta of 1.56. Samsara Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $40.54.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm 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%. On average, analysts anticipate that Samsara Inc. will post -0.4 EPS for the current fiscal year.

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.