General Catalyst Group Management LLC Reduces Holdings in Samsara Inc. (NYSE:IOT)

General Catalyst Group Management LLC cut its position in Samsara Inc. (NYSE:IOT - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,442,233 shares of the company's stock after selling 5,854,823 shares during the quarter. Samsara comprises about 66.8% of General Catalyst Group Management LLC's holdings, making the stock its largest position. General Catalyst Group Management LLC owned about 3.11% of Samsara worth $762,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in shares of Samsara during the 3rd quarter valued at $34,000. Continuum Advisory LLC boosted its stake in Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company's stock valued at $45,000 after buying an additional 247 shares during the period. UMB Bank n.a. grew its position in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock worth $49,000 after buying an additional 418 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company's stock worth $67,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings 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 valued at $75,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 64,188 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the completion of the sale, the chief executive officer now directly owns 41,272 shares of the company's stock, valued at approximately $1,959,594.56. This trade represents a 60.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Bicket sold 107,152 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 138,000 shares in the company, 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. In the last ninety days, insiders sold 1,657,460 shares of company stock valued at $80,657,496. 60.04% of the stock is owned by corporate insiders.

Samsara Stock Performance

Shares of Samsara stock traded down $0.03 on Monday, hitting $51.47. 1,692,614 shares of the company's stock were exchanged, compared to its average volume of 2,484,992. The stock has a market capitalization of $28.88 billion, a PE ratio of -109.64 and a beta of 1.61. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $57.51. The company has a 50-day simple moving average of $47.80 and a 200-day simple moving average of $45.92.

Wall Street Analyst Weigh In

IOT has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Samsara from $40.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Piper Sandler raised their price objective on Samsara from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Royal Bank of Canada raised their price target on Samsara from $49.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Truist Financial raised their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, November 18th. Finally, BMO Capital Markets increased their price target on shares of Samsara from $44.00 to $57.00 and gave the company a "market perform" rating in a research report on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $51.67.

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.