Adero Partners LLC Sells 1,529 Shares of Samsara Inc. (NYSE:IOT)

Adero Partners LLC lessened its holdings in Samsara Inc. (NYSE:IOT) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,662 shares of the company’s stock after selling 1,529 shares during the period. Adero Partners LLC’s holdings in Samsara were worth $335,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. abrdn plc increased its position in shares of Samsara by 11.6% during the 4th quarter. abrdn plc now owns 4,792 shares of the company’s stock valued at $210,000 after purchasing an additional 498 shares during the last quarter. Jennison Associates LLC boosted its holdings in Samsara by 13,426.9% during the 4th quarter. Jennison Associates LLC now owns 593,562 shares of the company’s stock valued at $25,933,000 after acquiring an additional 589,174 shares during the period. Spire Wealth Management lifted its position in shares of Samsara by 58.8% during the fourth quarter. Spire Wealth Management now owns 13,335 shares of the company’s stock worth $583,000 after purchasing an additional 4,935 shares during the last quarter. Hanson & Doremus Investment Management boosted its stake in shares of Samsara by 5.1% during the fourth quarter. Hanson & Doremus Investment Management now owns 75,410 shares of the company’s stock valued at $3,295,000 after purchasing an additional 3,654 shares during the period. Finally, Swedbank AB grew its holdings in shares of Samsara by 76.6% in the fourth quarter. Swedbank AB now owns 21,328 shares of the company’s stock worth $932,000 after purchasing an additional 9,248 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Transactions at Samsara

In other Samsara news, insider Sanjit Biswas sold 170,416 shares of Samsara stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.30, for a total transaction of $7,719,844.80. Following the completion of the sale, the insider now owns 1,175,569 shares of the company’s stock, valued at approximately $53,253,275.70. The trade was a 12.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $49.55, for a total value of $461,161.85. Following the completion of the transaction, the insider now directly owns 396,784 shares in the company, valued at $19,660,647.20. This represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,549,936 shares of company stock worth $75,624,852. Insiders own 60.04% of the company’s stock.

Samsara Trading Up 2.7 %

NYSE IOT opened at $53.99 on Thursday. The firm’s fifty day simple moving average is $47.66 and its two-hundred day simple moving average is $46.20. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $57.51. The firm has a market capitalization of $30.30 billion, a P/E ratio of -114.88 and a beta of 1.61.

Analysts Set New Price Targets

Several equities research analysts have issued reports on IOT shares. JPMorgan Chase & Co. boosted their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Piper Sandler increased their price objective on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. BMO Capital Markets lifted their target price on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Morgan Stanley increased their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Finally, StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara currently has an average rating of “Hold” and an average price target of $51.67.

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.