5 Investors Betting Big on Samsara (IOT) Stock Now

Following a rather impressive earnings call, shares of Samsara (NYSE:IOT) are surging today. At the time of writing, IOT stock has moved roughly 30% higher as investors pile into this cloud services and Internet of Things (IoT) company.

Samsara announced a smaller-than-expected loss of only 2 cents per share, relative to the 5 cents expected (which would have been the same as the prior year’s quarter). Additionally, revenue increased 43% on a year-over-year basis to $204.3 million, bolstered by increased spending from its clientele, who seemingly have prioritized IT spending to a greater degree than many expected.

Notably, Samsara’s annual recurring revenue also came in strong, showing 41% growth year-over-year, also topping estimates.

These results were solid, but some commentary around a potential shift toward artificial intelligence (AI) by the company’s management team has investors excited. If Samsara is able to leverage the growth AI has shown is possible, then perhaps these earnings beats aren’t a fluke. That’s what many investors are betting on right now, it appears.

With that said, let’s dive into which investors are making the biggest bets on IOT stock right now.

The 5 Biggest Investors in IOT Stock

According to data from Yahoo Financehere are the five largest institutional holders of Samsara. Notably, these five companies hold approximately 55% of the company’s total shares.

  • General Catalyst Group owns 33.4 million shares, or 20.3% of the company.
  • Morgan Stanley (NYSE:MS) owns 19.1 million shares, or 11.6% of the company.
  • Baillie Gifford owns 18.8 million shares, or 11.4% of the company.
  • Vanguard owns 10.6 million shares, or 6.4% of the company.
  • General Atlantic owns 9.2 million shares, or 5.6% of the company.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Source link

Share with your friends!

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest stocks updates
straight to your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

x Logo: Shield Security
This Site Is Protected By
Shield Security