Voloridge Investment Management LLC Trims Position in Samsara Inc. (NYSE:IOT)

Voloridge Investment Management LLC lowered its holdings in Samsara Inc. (NYSE:IOT) by 54.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 887,911 shares of the company’s stock after selling 1,073,753 shares during the quarter. Voloridge Investment Management LLC owned 0.16% of Samsara worth $38,793,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Barclays PLC grew its position in Samsara by 163.2% during the 3rd quarter. Barclays PLC now owns 412,066 shares of the company’s stock worth $19,829,000 after purchasing an additional 255,532 shares during the period. UMB Bank n.a. grew its holdings in Samsara by 62.1% during the fourth quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock worth $72,000 after acquiring an additional 635 shares during the period. Legal Advantage Investments Inc. acquired a new position in Samsara in the fourth quarter valued at approximately $218,000. Perpetual Ltd purchased a new stake in Samsara in the 4th quarter worth approximately $314,000. Finally, SG Americas Securities LLC grew its stake in shares of Samsara by 210.5% during the 4th quarter. SG Americas Securities LLC now owns 33,962 shares of the company’s stock worth $1,484,000 after purchasing an additional 23,023 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IOT. Cowen reiterated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Craig Hallum reiterated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Morgan Stanley cut their price objective on Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Piper Sandler reissued an “overweight” rating and issued a $53.00 price target (up previously from $44.00) on shares of Samsara in a research note on Wednesday, May 14th. Finally, Royal Bank of Canada cut their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, March 7th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $49.47.

Samsara Trading Down 0.6%

IOT opened at $47.33 on Wednesday. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90. The firm has a market capitalization of $26.95 billion, a PE ratio of -100.70 and a beta of 1.70. The firm’s 50-day moving average price is $39.92 and its 200 day moving average price is $45.80.

Insiders Place Their Bets

In other news, insider Adam Eltoukhy sold 9,043 shares of Samsara stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following the transaction, the insider now owns 331,106 shares in the company, valued at $17,839,991.28. The trade was a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’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 disclosure for this sale can be found here. Insiders have sold 1,239,721 shares of company stock valued at $48,223,793 in the last ninety days. 60.04% of the stock is currently owned by corporate insiders.

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.