Contravisory Investment Management Inc. Takes Position in Samsara Inc. (NYSE:IOT)

Contravisory Investment Management Inc. bought a new position in shares of Samsara Inc. (NYSE:IOT) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 193,897 shares of the company’s stock, valued at approximately $7,327,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Samsara by 6.4% in the 4th quarter. Vanguard Group Inc. now owns 15,260,007 shares of the company’s stock valued at $509,379,000 after purchasing an additional 917,389 shares during the last quarter. FMR LLC grew its holdings in shares of Samsara by 11.8% in the 3rd quarter. FMR LLC now owns 6,959,343 shares of the company’s stock worth $175,445,000 after acquiring an additional 731,963 shares during the period. Invesco Ltd. lifted its stake in Samsara by 8.8% in the 3rd quarter. Invesco Ltd. now owns 4,534,801 shares of the company’s stock valued at $114,322,000 after buying an additional 366,218 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Samsara by 23.1% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,985,589 shares of the company’s stock valued at $66,279,000 after buying an additional 372,073 shares in the last quarter. Finally, Sands Capital Management LLC lifted its stake in Samsara by 4.6% in the 4th quarter. Sands Capital Management LLC now owns 1,579,876 shares of the company’s stock valued at $52,736,000 after buying an additional 69,171 shares in the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Performance

NYSE:IOT traded down $0.28 during trading hours on Friday, hitting $29.32. The stock had a trading volume of 6,377,938 shares, compared to its average volume of 5,443,123. Samsara Inc. has a one year low of $21.48 and a one year high of $42.28. The company has a market cap of $16.14 billion, a price-to-earnings ratio of -58.64 and a beta of 1.51. The business’s 50 day moving average is $34.95 and its 200-day moving average is $34.36.

Insider Transactions at Samsara

In related news, CAO James Andrew Munk sold 1,105 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the completion of the transaction, the chief accounting officer now owns 337,523 shares of the company’s stock, valued at $10,129,065.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Samsara news, insider Adam Eltoukhy sold 10,422 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $30.78, for a total transaction of $320,789.16. Following the completion of the sale, the insider now directly owns 535,149 shares in the company, valued at $16,471,886.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James Andrew Munk sold 1,105 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the completion of the transaction, the chief accounting officer now owns 337,523 shares of the company’s stock, valued at $10,129,065.23. The disclosure for this sale can be found here. Insiders sold 1,727,122 shares of company stock valued at $59,873,787 over the last quarter. Corporate insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IOT shares. Loop Capital started coverage on Samsara in a research report on Thursday, April 18th. They issued a “buy” rating and a $42.00 target price on the stock. Bank of America initiated coverage on Samsara in a research note on Thursday. They set a “buy” rating and a $37.00 target price for the company. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Saturday, May 25th. BMO Capital Markets reiterated a “market perform” rating and issued a $40.00 price target on shares of Samsara in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of Samsara in a report on Friday, June 7th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Samsara presently has an average rating of “Moderate Buy” and a consensus price target of $35.75.

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.