TrueMark Investments LLC Sells 5,088 Shares of Samsara Inc. (NYSE:IOT)

TrueMark Investments LLC lessened its stake in shares of Samsara Inc. (NYSE:IOT) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,017 shares of the company’s stock after selling 5,088 shares during the quarter. TrueMark Investments LLC’s holdings in Samsara were worth $2,710,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Samsara during the fourth quarter worth about $31,000. Hobbs Group Advisors LLC bought a new stake in Samsara during the 3rd quarter worth approximately $34,000. IFP Advisors Inc raised its stake in shares of Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after purchasing an additional 598 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Samsara by 62.1% during the fourth quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock valued at $72,000 after buying an additional 635 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on IOT. Truist Financial lowered their price target on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Raymond James started coverage on shares of Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating on the stock. Berenberg Bank initiated coverage on shares of Samsara in a research report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price objective for the company. Royal Bank of Canada dropped their target price on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

Samsara Price Performance

NYSE:IOT opened at $42.54 on Wednesday. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The stock’s fifty day moving average price is $47.74 and its two-hundred day moving average price is $48.17. The company has a market cap of $23.87 billion, a P/E ratio of -90.51 and a beta of 1.63.

Insider Activity at Samsara

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Sanjit Biswas sold 48,884 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $45.36, for a total transaction of $2,217,378.24. Following the completion of the transaction, the insider now directly owns 2,007,964 shares of the company’s stock, valued at approximately $91,081,247.04. The trade was a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,584,660 shares of company stock worth $69,559,476. 60.04% of the stock is owned by company insiders.

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.