Fortitude Advisory Group L.L.C. Sells 5,529 Shares of Samsara Inc. (NYSE:IOT)

Fortitude Advisory Group L.L.C. decreased its holdings in shares of Samsara Inc. (NYSE:IOT) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,446 shares of the company’s stock after selling 5,529 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Samsara were worth $893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in shares of Samsara by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 301,705 shares of the company’s stock valued at $10,164,000 after purchasing an additional 14,215 shares in the last quarter. Sei Investments Co. purchased a new position in Samsara during the 2nd quarter valued at about $8,625,000. Thrivent Financial for Lutherans increased its position in shares of Samsara by 12.2% during the second quarter. Thrivent Financial for Lutherans now owns 43,755 shares of the company’s stock valued at $1,475,000 after buying an additional 4,764 shares during the period. Bank of Montreal Can purchased a new stake in shares of Samsara in the second quarter worth about $537,000. Finally, Xponance Inc. boosted its position in shares of Samsara by 26.2% in the second quarter. Xponance Inc. now owns 9,738 shares of the company’s stock valued at $328,000 after acquiring an additional 2,024 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Stock Up 2.4 %

Shares of NYSE:IOT opened at $49.33 on Tuesday. The stock has a market cap of $27.68 billion, a PE ratio of -104.95 and a beta of 1.59. The company’s fifty day moving average is $47.99 and its 200 day moving average is $45.52. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $57.51.

Analyst Upgrades and Downgrades

Several brokerages have commented on IOT. BNP Paribas initiated coverage on shares of Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price target for the company. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Truist Financial upped their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Loop Capital boosted their price objective on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $51.29.

Insider Activity

In other Samsara news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $45.92, for a total transaction of $5,160,489.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 64,188 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the completion of the sale, the chief executive officer now directly owns 41,272 shares in the company, valued at approximately $1,959,594.56. This trade represents a 60.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,570,445 shares of company stock valued at $76,112,970. 60.04% of the stock is currently owned by insiders.

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.