Samsara Inc. (NYSE:IOT) Shares Sold by Corton Capital Inc.

Corton Capital Inc. reduced its stake in shares of Samsara Inc. (NYSE:IOT) by 62.7% during the 4th quarter, HoldingsChannel reports. The firm owned 6,819 shares of the company’s stock after selling 11,455 shares during the quarter. Corton Capital Inc.’s holdings in Samsara were worth $298,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in IOT. GLOBALT Investments LLC GA boosted its stake in Samsara by 0.3% during the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock worth $2,444,000 after buying an additional 182 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Samsara by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after acquiring an additional 300 shares during the period. NewEdge Advisors LLC boosted its position in shares of Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 414 shares during the last quarter. abrdn plc grew its holdings in shares of Samsara by 11.6% in the fourth quarter. abrdn plc now owns 4,792 shares of the company’s stock valued at $210,000 after purchasing an additional 498 shares during the period. Finally, Wellington Management Group LLP increased its position in Samsara by 7.3% during the fourth quarter. Wellington Management Group LLP now owns 8,538 shares of the company’s stock worth $373,000 after purchasing an additional 579 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Trading Up 0.2 %

IOT stock opened at $41.45 on Wednesday. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90. The company has a market cap of $23.60 billion, a P/E ratio of -88.19 and a beta of 1.70. The company’s 50-day moving average price is $38.84 and its 200 day moving average price is $45.94.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IOT shares. Raymond James initiated coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Truist Financial cut their target price on 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 decreased their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Berenberg Bank assumed coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Finally, Piper Sandler decreased their target price on shares of Samsara from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.87.

Insider Activity

In other Samsara news, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.72, for a total transaction of $871,200.00. Following the completion of the transaction, the director now owns 373,579 shares in the company, valued at approximately $14,464,978.88. The trade was a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sanjit Biswas sold 13,086 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total transaction of $729,544.50. Following the completion of the sale, the insider now owns 1,571,848 shares in the company, valued at $87,630,526. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,242,965 shares of company stock worth $49,704,422. Company insiders own 60.04% of the company’s stock.

About Samsara

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.