PointState Capital LP cut its stake in Samsara Inc. (NYSE:IOT – Free Report) by 86.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,474 shares of the company’s stock after selling 672,148 shares during the quarter. PointState Capital LP’s holdings in Samsara were worth $2,840,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of IOT. Ulland Investment Advisors LLC bought a new stake in Samsara in the second quarter worth $25,000. State of Wyoming bought a new stake in shares of Samsara during the fourth quarter worth $27,000. Macquarie Group Ltd. lifted its position in shares of Samsara by 37.3% during the fourth quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock worth $30,000 after purchasing an additional 649 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Samsara during the second quarter worth $33,000. Finally, IFP Advisors Inc lifted its position in shares of Samsara by 3,665.1% during the second quarter. IFP Advisors Inc now owns 1,619 shares of the company’s stock worth $40,000 after purchasing an additional 1,576 shares during the last quarter. 52.47% of the stock is currently owned by institutional investors.
Samsara Stock Up 0.6 %
Shares of Samsara stock traded up $0.22 on Tuesday, reaching $34.13. 2,050,163 shares of the stock were exchanged, compared to its average volume of 3,099,588. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of -80.74 and a beta of 1.50. The business has a 50 day moving average price of $26.13 and a two-hundred day moving average price of $26.34. Samsara Inc. has a twelve month low of $10.48 and a twelve month high of $35.99.
Wall Street Analysts Forecast Growth
IOT has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on Samsara from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Friday, December 1st. JPMorgan Chase & Co. raised their price target on Samsara from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, December 1st. Morgan Stanley raised their price target on Samsara from $25.00 to $31.00 and gave the company an “equal weight” rating in a research note on Friday, December 1st. Wells Fargo & Company raised their price target on Samsara from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. Finally, The Goldman Sachs Group raised their price target on Samsara from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.56.
Insider Transactions at Samsara
In other news, CEO Sanjit Biswas sold 45,965 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $23.14, for a total transaction of $1,063,630.10. Following the completion of the transaction, the chief executive officer now directly owns 629,759 shares of the company’s stock, valued at approximately $14,572,623.26. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Adam Eltoukhy sold 1,666 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $26.00, for a total transaction of $43,316.00. Following the completion of the sale, the insider now directly owns 767,489 shares in the company, valued at $19,954,714. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 45,965 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $23.14, for a total value of $1,063,630.10. Following the completion of the sale, the chief executive officer now owns 629,759 shares of the company’s stock, valued at $14,572,623.26. The disclosure for this sale can be found here. Insiders sold a total of 1,885,424 shares of company stock valued at $48,049,990 in the last three months. 66.14% of the stock is currently owned by company insiders.
Samsara Company Profile
Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.
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