Cerity Partners LLC Raises Stock Position in Samsara Inc. (NYSE:IOT)

Cerity Partners LLC lifted its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 73.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,642 shares of the company's stock after purchasing an additional 25,328 shares during the quarter. Cerity Partners LLC's holdings in Samsara were worth $2,606,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GLOBALT Investments LLC GA grew its stake in shares of Samsara by 0.3% during the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock worth $2,444,000 after acquiring an additional 182 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Samsara by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock worth $253,000 after buying an additional 300 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Samsara by 5.1% during the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company's stock valued at $383,000 after buying an additional 388 shares during the last quarter. abrdn plc increased its position in shares of Samsara by 11.6% in the 4th quarter. abrdn plc now owns 4,792 shares of the company's stock valued at $210,000 after acquiring an additional 498 shares during the period. Finally, IFP Advisors Inc lifted its position in Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after acquiring an additional 598 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Price Performance

IOT stock traded down $2.01 during trading on Monday, hitting $35.51. The stock had a trading volume of 3,861,692 shares, compared to its average volume of 3,772,572. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90. The company's 50-day moving average price is $42.15 and its two-hundred day moving average price is $46.68. The stock has a market capitalization of $20.22 billion, a P/E ratio of -75.55 and a beta of 1.71.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on IOT shares. Morgan Stanley reduced their price objective on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. Royal Bank of Canada cut their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Berenberg Bank initiated coverage on Samsara in a research note on Monday, February 3rd. They issued a "hold" rating and a $57.00 target price on the stock. Finally, BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a research report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $49.07.

Insider Transactions at Samsara

In other Samsara news, insider Sanjit Biswas sold 73,762 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $47.08, for a total value of $3,472,714.96. Following the completion of the sale, the insider now owns 13,231 shares in the company, valued at approximately $622,915.48. This represents a 84.79 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 9,043 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total value of $487,236.84. Following the transaction, the insider now owns 331,106 shares in the company, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,264,146 shares of company stock valued at $53,291,272 over the last ninety days. Insiders own 60.04% of the company's stock.

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.