California Public Employees Retirement System decreased its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 5.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 274,234 shares of the company's stock after selling 14,956 shares during the period. California Public Employees Retirement System's holdings in Samsara were worth $11,981,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new position in shares of Samsara during the fourth quarter valued at about $31,000. Hobbs Group Advisors LLC purchased a new stake in Samsara during the 3rd quarter valued at about $34,000. IFP Advisors Inc grew its position in Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after acquiring an additional 598 shares during the last quarter. Continuum Advisory LLC grew its position in Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after acquiring an additional 247 shares during the last quarter. Finally, UMB Bank n.a. increased its stake in Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock worth $72,000 after purchasing an additional 635 shares during the period. Institutional investors own 96.02% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on IOT. Cowen restated a "buy" rating on shares of Samsara in a report on Friday, March 7th. Craig Hallum restated a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Truist Financial lowered their price objective on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reduced their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, Raymond James initiated coverage on Samsara in a research report on Wednesday, February 26th. They set a "market perform" rating for the company. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $49.60.
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Insider Activity at Samsara
In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.19, for a total transaction of $10,015,310.89. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sanjit Biswas sold 85,063 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $43.84, for a total transaction of $3,729,161.92. Following the completion of the sale, the insider now owns 150,676 shares in the company, valued at $6,605,635.84. This represents a 36.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,569,339 shares of company stock valued at $68,470,932. 60.04% of the stock is owned by corporate insiders.
Samsara Stock Performance
Shares of NYSE:IOT traded up $0.04 during trading on Monday, reaching $33.50. 9,619,457 shares of the stock traded hands, compared to its average volume of 3,701,932. The stock has a market cap of $19.07 billion, a P/E ratio of -71.27 and a beta of 1.71. The stock has a 50-day moving average of $46.30 and a two-hundred day moving average of $47.67. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90.
About Samsara
(Free Report)
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.
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