Assetmark Inc. bought a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,913 shares of the company's stock, valued at approximately $433,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IOT. Jones Financial Companies Lllp purchased a new position in Samsara during the 4th quarter valued at about $31,000. Hobbs Group Advisors LLC purchased a new position in shares of Samsara during the third quarter valued at approximately $34,000. IFP Advisors Inc boosted its position in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after buying an additional 247 shares during the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Samsara by 19.2% in the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock worth $75,000 after buying an additional 250 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Samsara news, insider Dominic Phillips sold 64,629 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.95, for a total value of $2,969,702.55. Following the completion of the sale, the insider now directly owns 755,001 shares in the company, valued at $34,692,295.95. This trade represents a 7.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjit Biswas sold 48,884 shares of the company's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $45.36, for a total value of $2,217,378.24. Following the transaction, the insider now directly owns 2,007,964 shares in the company, valued at approximately $91,081,247.04. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,585,272 shares of company stock worth $70,167,096. 60.04% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have commented on IOT. Morgan Stanley boosted their target price on Samsara from $40.00 to $52.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 20th. 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. Piper Sandler upgraded Samsara from a "neutral" rating to an "overweight" rating and set a $50.00 price target for the company in a research note on Monday. BMO Capital Markets upgraded shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 target price on the stock in a research note on Monday. Finally, Craig Hallum reiterated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $49.60.
Check Out Our Latest Research Report on IOT
Samsara Stock Performance
NYSE IOT opened at $38.02 on Thursday. The firm's 50 day moving average price is $48.56 and its 200-day moving average price is $48.20. The company has a market cap of $21.33 billion, a PE ratio of -80.88 and a beta of 1.63. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90.
Samsara Company Profile
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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.
See Also
Want to see what other hedge funds are holding IOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Samsara Inc. (NYSE:IOT - Free Report).
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