Artisan Partners Limited Partnership Sells 759,277 Shares of Samsara Inc. (NYSE:IOT)

Artisan Partners Limited Partnership reduced its position in Samsara Inc. (NYSE:IOT) by 27.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,035,676 shares of the company’s stock after selling 759,277 shares during the quarter. Artisan Partners Limited Partnership owned 0.36% of Samsara worth $88,939,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in Samsara in the fourth quarter worth approximately $31,000. Hobbs Group Advisors LLC bought a new stake in shares of Samsara in the 3rd quarter worth approximately $34,000. IFP Advisors Inc boosted its stake in shares of Samsara by 290.3% in 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 in the last quarter. Continuum Advisory LLC grew 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 purchasing an additional 247 shares during the last quarter. Finally, Private Trust Co. NA raised its position in Samsara by 19.2% in the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after purchasing an additional 250 shares during the period. 96.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 94,020 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $42.68, for a total value of $4,012,773.60. Following the sale, the insider now owns 114,000 shares in the company, valued at $4,865,520. This represents a 45.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara stock in a transaction on Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,607,296 shares of company stock worth $70,334,047. 60.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IOT has been the subject of several analyst reports. Cowen restated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. JPMorgan Chase & Co. raised their price target on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Raymond James assumed coverage on Samsara in a research report on Wednesday, February 26th. They issued a “market perform” rating for the company. Loop Capital raised their target price on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price target on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.60.

Samsara Stock Performance

Shares of NYSE:IOT opened at $40.66 on Friday. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The firm has a market capitalization of $22.82 billion, a P/E ratio of -86.51 and a beta of 1.63. The stock has a 50 day moving average price of $47.55 and a 200-day moving average price of $48.08.

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.