California Public Employees Retirement System Reduces Stock Holdings in Samsara Inc. (NYSE:IOT)

California Public Employees Retirement System lowered its position in Samsara Inc. (NYSE:IOT) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 274,234 shares of the company’s stock after selling 14,956 shares during the quarter. California Public Employees Retirement System’s holdings in Samsara were worth $11,981,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jordan Park Trust Co LLC acquired a new stake in Samsara in the fourth quarter valued at $112,041,000. Norges Bank bought a new stake in shares of Samsara during the 4th quarter valued at about $106,274,000. Arrowstreet Capital Limited Partnership raised its position in shares of Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after purchasing an additional 2,148,081 shares during the period. Lord Abbett & CO. LLC increased its position in Samsara by 1,909.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock worth $90,026,000 after buying an additional 1,777,757 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 863,197 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Samsara Stock Performance

NYSE IOT opened at $33.51 on Friday. The stock has a market capitalization of $19.08 billion, a price-to-earnings ratio of -71.30 and a beta of 1.71. The stock’s 50 day moving average price is $46.30 and its two-hundred day moving average price is $47.67. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90.

Insider Transactions at Samsara

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Eltoukhy sold 3,903 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.07, for a total transaction of $132,975.21. Following the completion of the transaction, the insider now directly owns 320,936 shares in the company, valued at approximately $10,934,289.52. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,628,453 shares of company stock worth $71,145,841 in the last ninety days. Insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IOT shares. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Monday, March 10th. Cowen reaffirmed a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Wells Fargo & Company reduced their price target on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Berenberg Bank began coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Finally, Craig Hallum restated a “hold” rating on shares of Samsara in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

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.