Commonwealth Equity Services LLC Sells 13,977 Shares of Samsara Inc. (NYSE:IOT)

Commonwealth Equity Services LLC cut its holdings in Samsara Inc. (NYSE:IOT) by 44.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,665 shares of the company’s stock after selling 13,977 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Samsara were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new stake in shares of Samsara in the 4th quarter worth approximately $31,000. Hobbs Group Advisors LLC bought a new stake in Samsara in the third quarter valued at $34,000. IFP Advisors Inc increased its position in Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after purchasing an additional 598 shares during the period. Continuum Advisory LLC raised its holdings in Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after purchasing an additional 247 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock worth $72,000 after purchasing an additional 635 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Stock Down 1.8 %

Shares of NYSE IOT opened at $38.09 on Thursday. The firm has a market cap of $21.38 billion, a P/E ratio of -81.04 and a beta of 1.63. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90. The company has a 50 day moving average of $46.86 and a 200 day moving average of $47.86.

Insiders Place Their Bets

In other news, insider Sanjit Biswas sold 94,020 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $42.68, for a total transaction of $4,012,773.60. Following the sale, the insider now owns 114,000 shares of the company’s stock, valued at $4,865,520. This trade represents a 45.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dominic Phillips sold 21,157 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total transaction of $811,794.09. Following the transaction, the insider now directly owns 638,642 shares of the company’s stock, valued at $24,504,693.54. The trade was a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,628,453 shares of company stock valued at $71,145,841. Corporate insiders own 60.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IOT shares. Piper Sandler raised shares of 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, March 10th. Truist Financial decreased their target price on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Cowen restated a “buy” rating on shares of Samsara 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 objective for the company in a report on Monday, March 10th. Finally, Craig Hallum restated a “hold” rating on shares of Samsara in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.60.

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.