Napean Trading & Investment Co Singapore PTE Ltd Lowers Position in Samsara Inc. (NYSE:IOT)

Napean Trading & Investment Co Singapore PTE Ltd lessened its stake in Samsara Inc. (NYSE:IOT) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,561 shares of the company’s stock after selling 16,122 shares during the quarter. Samsara makes up about 1.3% of Napean Trading & Investment Co Singapore PTE Ltd’s holdings, making the stock its 25th largest position. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Samsara were worth $5,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of IOT. Victory Capital Management Inc. lifted its stake in Samsara by 12.6% during the 3rd quarter. Victory Capital Management Inc. now owns 67,851 shares of the company’s stock valued at $3,265,000 after acquiring an additional 7,613 shares in the last quarter. Empowered Funds LLC increased its stake in Samsara by 55.1% in the 3rd quarter. Empowered Funds LLC now owns 9,750 shares of the company’s stock valued at $469,000 after buying an additional 3,463 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Samsara during the 3rd quarter worth approximately $205,000. Jennison Associates LLC purchased a new position in shares of Samsara in the 3rd quarter worth approximately $211,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Samsara in the third quarter valued at approximately $697,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Stock Up 1.9 %

IOT opened at $40.26 on Monday. The stock has a market cap of $22.59 billion, a PE ratio of -85.65 and a beta of 1.63. The business has a 50 day moving average of $47.80 and a 200-day moving average of $48.16. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90.

Insider Activity

In related news, Director Jonathan Chadwick sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $45.37, for a total transaction of $1,020,825.00. Following the completion of the sale, the director now owns 396,079 shares of the company’s stock, valued at $17,970,104.23. This trade represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dominic Phillips sold 54,134 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.60, for a total value of $2,089,572.40. Following the sale, the insider now directly owns 638,642 shares in the company, valued at $24,651,581.20. This trade represents a 7.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,573,317 shares of company stock worth $69,108,479. Corporate insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on IOT. 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 research report on Friday, March 7th. Craig Hallum restated a “hold” rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Monday, March 10th. JPMorgan Chase & Co. boosted their price objective on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Piper Sandler upgraded shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price for the company in a research report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.60.

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.