Polar Capital Holdings Plc Has $38.86 Million Holdings in Samsara Inc. (NYSE:IOT)

Polar Capital Holdings Plc reduced its position in Samsara Inc. (NYSE:IOT - Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 889,429 shares of the company's stock after selling 31,666 shares during the period. Polar Capital Holdings Plc owned 0.16% of Samsara worth $38,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantinno Capital Management LP bought a new position in Samsara in the fourth quarter valued at about $3,865,000. Man Group plc bought a new position in Samsara during the fourth quarter worth about $17,226,000. Nissay Asset Management Corp Japan ADV boosted its holdings in Samsara by 5.3% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 26,857 shares of the company's stock worth $1,193,000 after buying an additional 1,358 shares during the last quarter. Morse Asset Management Inc bought a new position in Samsara during the fourth quarter worth about $175,000. Finally, Needham Investment Management LLC bought a new position in Samsara during the fourth quarter worth about $218,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Down 0.3%

Shares of NYSE:IOT traded down $0.14 during midday trading on Tuesday, reaching $47.48. The company had a trading volume of 701,822 shares, compared to its average volume of 3,734,971. The business's 50 day moving average price is $39.72 and its 200 day moving average price is $45.78. The stock has a market cap of $27.03 billion, a PE ratio of -101.02 and a beta of 1.70. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

Insider Transactions at Samsara

In other news, insider Adam Eltoukhy sold 3,903 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the sale, the insider now owns 320,936 shares in the company, valued at $10,934,289.52. This represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sanjit Biswas sold 145,392 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $44.27, for a total value of $6,436,503.84. Following the sale, the insider now owns 120,000 shares in the company, valued at approximately $5,312,400. This represents a 54.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,239,721 shares of company stock worth $48,223,793 in the last 90 days. Corporate insiders own 60.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company reduced their target price on Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Cowen reiterated a "buy" rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 target price on the stock in a report on Monday, March 10th. Royal Bank of Canada cut their price objective on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Finally, Morgan Stanley cut their price objective on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Samsara presently has an average rating of "Moderate Buy" and an average target price of $49.47.

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.