Samsara Inc. (NYSE:IOT) Stake Raised by Concentrum Wealth Management

Concentrum Wealth Management increased its holdings in Samsara Inc. (NYSE:IOT) by 17.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,900 shares of the company’s stock after buying an additional 2,500 shares during the quarter. Concentrum Wealth Management’s holdings in Samsara were worth $738,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IOT. Jones Financial Companies Lllp acquired a new position in shares of Samsara during the fourth quarter valued at $31,000. Hobbs Group Advisors LLC acquired a new position in Samsara during the 3rd quarter valued at about $34,000. IFP Advisors Inc raised 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 worth $35,000 after buying an additional 598 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after acquiring an additional 247 shares during the period. Finally, National Bank of Canada FI acquired a new stake in shares of Samsara in the 4th quarter worth approximately $45,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Samsara

In other news, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.72, for a total value of $871,200.00. Following the sale, the director now directly owns 373,579 shares in the company, valued at $14,464,978.88. This trade represents a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dominic Phillips sold 21,157 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total value of $811,794.09. Following the transaction, the insider now directly owns 638,642 shares of the company’s stock, valued at $24,504,693.54. This trade represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,569,339 shares of company stock worth $68,470,932. 60.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IOT shares. Royal Bank of Canada cut their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. BMO Capital Markets upgraded Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a report on Monday, March 10th. Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a report on Friday, March 7th. Wells Fargo & Company reduced their price objective on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Raymond James assumed coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating on the stock. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.60.

Samsara Stock Down 1.8 %

Shares of IOT stock opened at $33.51 on Monday. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The firm has a market cap of $19.08 billion, a price-to-earnings ratio of -71.30 and a beta of 1.71. The stock has a 50-day moving average price of $46.30 and a 200 day moving average price of $47.67.

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.