TrueMark Investments LLC Cuts Holdings in Samsara Inc. (NYSE:IOT)

TrueMark Investments LLC lowered its stake in shares of Samsara Inc. (NYSE:IOT) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,017 shares of the company’s stock after selling 5,088 shares during the quarter. TrueMark Investments LLC’s holdings in Samsara were worth $2,710,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in Samsara in the fourth quarter valued at $31,000. Hobbs Group Advisors LLC purchased a new position in shares of Samsara in the 3rd quarter worth about $34,000. IFP Advisors Inc increased its position in shares of Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after purchasing an additional 598 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after buying an additional 247 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock worth $72,000 after buying an additional 635 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company reduced their price target on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Piper Sandler upgraded shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. boosted their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Royal Bank of Canada reduced their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, Loop Capital boosted their target price on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $49.60.

Samsara Trading Up 1.1 %

NYSE:IOT opened at $42.54 on Wednesday. The company has a 50-day moving average price of $47.74 and a 200-day moving average price of $48.17. The stock has a market cap of $23.87 billion, a price-to-earnings ratio of -90.51 and a beta of 1.63. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90.

Insider Buying and Selling

In other Samsara news, insider Dominic Phillips sold 54,134 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.60, for a total transaction of $2,089,572.40. Following the completion of the transaction, the insider now owns 638,642 shares of the company’s stock, valued at approximately $24,651,581.20. This trade represents a 7.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 11,343 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $39.76, for a total transaction of $450,997.68. Following the completion of the sale, the insider now directly owns 271,922 shares in the company, valued at $10,811,618.72. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,584,660 shares of company stock valued at $69,559,476 over the last three months. Corporate 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.