Commonwealth Equity Services LLC Trims Position in Samsara Inc. (NYSE:IOT)

Commonwealth Equity Services LLC decreased its position in Samsara Inc. (NYSE:IOT) by 44.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,665 shares of the company’s stock after selling 13,977 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Samsara were worth $772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in shares of Samsara in the 4th quarter worth approximately $431,000. State Street Corp raised its position in Samsara by 4.7% in the third quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after acquiring an additional 95,006 shares during the period. HighTower Advisors LLC boosted its stake in shares of Samsara by 193.4% during the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock worth $2,981,000 after acquiring an additional 40,833 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Samsara by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock valued at $82,004,000 after acquiring an additional 47,911 shares during the period. Finally, Amundi increased its stake in shares of Samsara by 22.2% in the 4th quarter. Amundi now owns 3,013,265 shares of the company’s stock worth $133,126,000 after purchasing an additional 547,390 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Loop Capital lifted their target price on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company lowered their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. BMO Capital Markets raised shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a report on Monday, March 10th. Royal Bank of Canada lowered their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, Truist Financial reduced 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. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

Samsara Trading Down 1.8 %

Shares of IOT stock opened at $38.09 on Thursday. The stock’s 50-day moving average price is $46.86 and its 200-day moving average price is $47.86. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of -81.04 and a beta of 1.63.

Insiders Place Their Bets

In related news, insider Dominic Phillips sold 21,157 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total value of $811,794.09. Following the completion of the transaction, the insider now owns 638,642 shares of the company’s stock, valued at approximately $24,504,693.54. This trade represents a 3.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,453 shares of company stock valued at $71,145,841 in the last quarter. 60.04% of the stock is currently owned by insiders.

Samsara Company 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.