Royal Fund Management LLC Lowers Holdings in Samsara Inc. (NYSE:IOT)

Royal Fund Management LLC lowered its holdings in shares of Samsara Inc. (NYSE:IOT) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,700 shares of the company’s stock after selling 1,500 shares during the quarter. Royal Fund Management LLC’s holdings in Samsara were worth $730,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IOT. State Street Corp boosted its stake in Samsara by 4.7% in the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after purchasing an additional 95,006 shares during the period. HighTower Advisors LLC boosted its position in shares of Samsara by 193.4% during the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock worth $2,981,000 after acquiring an additional 40,833 shares during the last quarter. Swiss National Bank grew its stake in Samsara by 3.1% during the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after acquiring an additional 18,400 shares in the last quarter. International Assets Investment Management LLC grew its stake in Samsara by 2,787.2% during the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after acquiring an additional 10,452 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Samsara in the 2nd quarter valued at $537,000. Institutional investors own 96.02% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on IOT shares. BMO Capital Markets raised their price objective on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company upped their price objective on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada raised their target price on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Truist Financial upped their price target on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.29.

Samsara Trading Up 0.6 %

IOT stock opened at $47.17 on Wednesday. The stock has a market cap of $26.47 billion, a PE ratio of -100.35 and a beta of 1.59. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $57.51. The company has a 50-day moving average price of $48.28 and a 200 day moving average price of $45.09.

Insider Buying and Selling at Samsara

In related news, insider Sanjit Biswas sold 56,474 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $43.33, for a total transaction of $2,447,018.42. Following the completion of the transaction, the insider now owns 116,257 shares in the company, valued at $5,037,415.81. The trade was a 32.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the insider now owns 396,784 shares in the company, valued at approximately $19,660,647.20. The trade was a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,510,542 shares of company stock worth $73,468,075 over the last 90 days. Company insiders own 60.04% of the company’s stock.

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.