TimesSquare Capital Management LLC Lowers Stock Holdings in Samsara Inc. (NYSE:IOT)

TimesSquare Capital Management LLC lessened its position in Samsara Inc. (NYSE:IOT - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 720,946 shares of the company's stock after selling 150,615 shares during the quarter. TimesSquare Capital Management LLC owned 0.13% of Samsara worth $31,498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in IOT. International Assets Investment Management LLC increased its stake in Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company's stock valued at $521,000 after acquiring an additional 10,452 shares during the last quarter. Grassi Investment Management bought a new position in Samsara in the third quarter valued at $207,000. Assenagon Asset Management S.A. increased its stake in Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company's stock valued at $433,000 after acquiring an additional 304 shares during the last quarter. Zweig DiMenna Associates LLC bought a new position in Samsara in the third quarter valued at $4,956,000. Finally, Consolidated Portfolio Review Corp bought a new position in Samsara in the third quarter valued at $1,291,000. Institutional investors own 96.02% of the company's stock.

Insiders Place Their Bets

In other Samsara news, insider Sanjit Biswas sold 13,086 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the completion of the sale, the insider now directly owns 1,571,848 shares in the company, valued at $87,630,526. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam Eltoukhy sold 23,960 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 331,106 shares of the company's stock, valued at $14,505,753.86. This trade represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,530,506 shares of company stock worth $75,086,182 over the last three months. Company insiders own 60.04% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IOT. Morgan Stanley raised their price objective on Samsara from $40.00 to $52.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 20th. Truist Financial raised their price objective on Samsara from $40.00 to $50.00 and gave the company a "hold" rating in a research note on Monday, November 18th. Piper Sandler raised their price objective on Samsara from $40.00 to $50.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Wells Fargo & Company raised their price objective on Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. raised their price objective on Samsara from $40.00 to $44.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Samsara presently has an average rating of "Hold" and a consensus target price of $51.67.

Samsara Price Performance

IOT traded down $1.92 on Friday, hitting $52.73. The company had a trading volume of 3,908,879 shares, compared to its average volume of 2,896,595. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The stock has a fifty day simple moving average of $48.92 and a 200-day simple moving average of $47.77. The firm has a market capitalization of $29.59 billion, a P/E ratio of -112.19 and a beta of 1.61.

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.