Korea Investment CORP Reduces Stock Holdings in Samsara Inc. (NYSE:IOT)

Korea Investment CORP cut its stake in Samsara Inc. (NYSE:IOT - Free Report) by 51.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,388 shares of the company's stock after selling 15,000 shares during the period. Korea Investment CORP's holdings in Samsara were worth $629,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in IOT. SBI Securities Co. Ltd. bought a new stake in Samsara in the 4th quarter worth approximately $431,000. State Street Corp lifted its holdings in shares of Samsara by 4.7% in the 3rd 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 last quarter. HighTower Advisors LLC boosted its stake in shares of Samsara by 193.4% in the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company's stock valued at $2,981,000 after purchasing an additional 40,833 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 purchasing an additional 47,911 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Samsara by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock worth $916,555,000 after purchasing an additional 863,197 shares during the period. Institutional investors own 96.02% of the company's stock.

Samsara Stock Performance

Shares of IOT stock traded down $0.60 during trading hours on Friday, reaching $33.51. The company had a trading volume of 13,034,915 shares, compared to its average volume of 3,678,260. The business has a fifty day moving average price of $46.30 and a 200-day moving average price of $47.67. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90. The firm has a market cap of $19.08 billion, a PE ratio of -71.30 and a beta of 1.71.

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Analyst Ratings Changes

A number of research analysts have recently issued reports on IOT shares. Truist Financial reduced their price objective on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Craig Hallum reiterated a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Berenberg Bank initiated coverage on Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective for the company. Royal Bank of Canada decreased their target price on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, BMO Capital Markets raised shares of 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. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.60.

Insider Activity

In other news, insider Sanjit Biswas sold 85,063 shares of Samsara stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $43.84, for a total transaction of $3,729,161.92. Following the transaction, the insider now directly owns 150,676 shares of the company's stock, valued at $6,605,635.84. The trade was a 36.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Bicket sold 107,152 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total transaction of $5,478,681.76. Following the completion of the sale, the insider now directly owns 138,000 shares of the company's stock, valued at $7,055,940. This represents a 43.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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 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.