Samsara Inc. (NYSE:IOT) is Sara Bay Financial’s 10th Largest Position

Sara Bay Financial lifted its holdings in shares of Samsara Inc. (NYSE:IOT) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 201,771 shares of the company’s stock after purchasing an additional 599 shares during the period. Samsara accounts for about 3.3% of Sara Bay Financial’s investment portfolio, making the stock its 10th biggest holding. Sara Bay Financial’s holdings in Samsara were worth $8,860,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Continuum Advisory LLC raised its stake in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Samsara by 19.2% in the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after acquiring an additional 250 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Samsara by 3.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after acquiring an additional 304 shares during the period. Wellington Management Group LLP grew its holdings in shares of Samsara by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock worth $383,000 after acquiring an additional 388 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after acquiring an additional 418 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Samsara Stock Performance

Shares of IOT traded up $0.93 during trading hours on Friday, hitting $46.75. The stock had a trading volume of 2,292,458 shares, compared to its average volume of 2,715,515. The firm has a market cap of $26.24 billion, a P/E ratio of -99.48 and a beta of 1.59. The company’s fifty day simple moving average is $48.40 and its 200 day simple moving average is $44.88. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $57.51.

Insider Buying and Selling

In related news, insider Sanjit Biswas sold 56,474 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $43.33, for a total value of $2,447,018.42. Following the transaction, the insider now directly owns 116,257 shares of the company’s stock, valued at approximately $5,037,415.81. This trade represents a 32.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction on Friday, November 15th. The stock was 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 trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,606,542 shares of company stock valued at $77,988,715. 60.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IOT shares. TD Cowen upped their price target on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. BNP Paribas started coverage on Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. Truist Financial increased their target price on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a report on Monday, November 18th. Finally, Royal Bank of Canada increased their target price on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $51.29.

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.