California Public Employees Retirement System Lowers Stake in Samsara Inc. (NYSE:IOT)

California Public Employees Retirement System trimmed its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 274,234 shares of the company's stock after selling 14,956 shares during the period. California Public Employees Retirement System's holdings in Samsara were worth $11,981,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Samsara by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock valued at $916,555,000 after buying an additional 863,197 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Samsara by 107.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after purchasing an additional 2,148,081 shares during the period. Amundi raised its holdings in 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 during the period. Jordan Park Trust Co LLC purchased a new stake in Samsara in the 4th quarter worth $112,041,000. Finally, Norges Bank purchased a new stake in Samsara in the 4th quarter worth $106,274,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the company's 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 sale, the director now directly owns 373,579 shares of the company's stock, valued at approximately $14,464,978.88. This represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,484,276 shares of company stock worth $64,741,770. Company insiders own 60.04% of the company's stock.

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Samsara Price Performance

NYSE IOT traded down $0.97 on Thursday, hitting $38.49. The stock had a trading volume of 1,060,135 shares, compared to its average volume of 3,748,419. The business's fifty day moving average price is $44.79 and its 200 day moving average price is $47.25. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of -82.12 and a beta of 1.71.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IOT shares. Craig Hallum reiterated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Piper Sandler dropped their price target on Samsara from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday. Wells Fargo & Company dropped their price target on Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a research report on Monday, March 10th. Finally, Raymond James initiated coverage on Samsara in a research report on Wednesday, February 26th. They issued a "market perform" rating for the company. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $49.20.

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.