Allspring Global Investments Holdings LLC Sells 652,376 Shares of Samsara Inc. (NYSE:IOT)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 40.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 956,545 shares of the company's stock after selling 652,376 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.17% of Samsara worth $42,070,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IOT. Entropy Technologies LP purchased a new stake in shares of Samsara in the fourth quarter valued at about $1,521,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Samsara by 37.7% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,753 shares of the company's stock valued at $863,000 after purchasing an additional 5,410 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Samsara by 22.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 459,416 shares of the company's stock valued at $20,072,000 after purchasing an additional 83,133 shares during the last quarter. abrdn plc raised 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 last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Samsara by 13,426.9% in the fourth quarter. Jennison Associates LLC now owns 593,562 shares of the company's stock valued at $25,933,000 after purchasing an additional 589,174 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Stock Up 2.3 %

NYSE:IOT traded up $1.37 during mid-day trading on Tuesday, hitting $60.33. 2,304,679 shares of the stock traded hands, compared to its average volume of 2,583,016. The business's 50-day moving average price is $48.07 and its 200 day moving average price is $47.34. The company has a market cap of $33.86 billion, a PE ratio of -128.65 and a beta of 1.61. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.14.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 75,594 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the completion of the transaction, the chief executive officer now owns 120,292 shares of the company's stock, valued at $6,723,119.88. The trade was a 38.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 23,960 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $43.81, for a total transaction of $1,049,687.60. Following the completion of the transaction, the insider now directly owns 331,106 shares of the company's stock, valued at approximately $14,505,753.86. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,543,006 shares of company stock valued at $75,774,307. Corporate insiders own 60.04% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets increased their target price on shares of Samsara from $44.00 to $57.00 and gave the company a "market perform" rating in a report on Friday, December 6th. StockNews.com upgraded shares of Samsara from a "sell" rating to a "hold" rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Wells Fargo & Company raised their price objective on shares of Samsara from $46.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Finally, Truist Financial raised their price objective on shares of Samsara from $40.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, November 18th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Samsara presently has a consensus rating of "Hold" and a consensus target price of $51.67.

Samsara 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.