Concentrum Wealth Management Purchases Shares of 10,775 Samsara Inc. (NYSE:IOT)

Concentrum Wealth Management purchased a new stake in Samsara Inc. (NYSE:IOT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,775 shares of the company’s stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fred Alger Management LLC bought a new position in Samsara during the third quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Samsara by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after purchasing an additional 381 shares during the period. a16z Perennial Management L.P. bought a new position in Samsara during the fourth quarter worth about $86,000. International Assets Investment Management LLC bought a new position in Samsara during the fourth quarter worth about $162,000. Finally, Belpointe Asset Management LLC bought a new position in Samsara during the third quarter worth about $202,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 9,344 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $34.75, for a total value of $324,704.00. Following the completion of the sale, the insider now directly owns 431,439 shares in the company, valued at $14,992,505.25. The sale was disclosed in a filing with the SEC, which is available at this link. In other Samsara news, insider Dominic Phillips sold 63,867 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $34.92, for a total transaction of $2,230,235.64. Following the completion of the transaction, the insider now directly owns 1,137,252 shares in the company, valued at $39,712,839.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Eltoukhy sold 9,344 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $34.75, for a total transaction of $324,704.00. Following the transaction, the insider now owns 431,439 shares of the company’s stock, valued at $14,992,505.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,513,054 shares of company stock worth $52,452,782. Company insiders own 66.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Loop Capital assumed coverage on Samsara in a report on Thursday, April 18th. They set a “buy” rating and a $42.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Samsara Trading Up 4.1 %

Shares of NYSE:IOT traded up $1.44 during trading on Thursday, reaching $36.69. 2,108,904 shares of the stock were exchanged, compared to its average volume of 3,625,433. Samsara Inc. has a 12 month low of $16.63 and a 12 month high of $40.54. The stock has a 50-day moving average price of $34.85 and a 200-day moving average price of $31.77.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $258.56 million. Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. As a group, equities research analysts forecast that Samsara Inc. will post -0.4 earnings per share 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.