Artisan Partners Limited Partnership Decreases Position in Samsara Inc. (NYSE:IOT)

Artisan Partners Limited Partnership decreased its position in shares of Samsara Inc. (NYSE:IOT) by 27.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,035,676 shares of the company’s stock after selling 759,277 shares during the period. Artisan Partners Limited Partnership’s holdings in Samsara were worth $88,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in Samsara in the 4th quarter valued at approximately $31,000. Hobbs Group Advisors LLC bought a new position in shares of Samsara during the third quarter valued at $34,000. IFP Advisors Inc boosted its position in shares of Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after buying an additional 598 shares during the last quarter. Continuum Advisory LLC increased its holdings in Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Samsara by 62.1% during the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock valued at $72,000 after acquiring an additional 635 shares during the period. Institutional investors own 96.02% of the company’s stock.

Insider Activity at Samsara

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sanjit Biswas sold 13,086 shares of Samsara stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total transaction of $729,544.50. Following the sale, the insider now owns 1,571,848 shares in the company, valued at approximately $87,630,526. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,607,296 shares of company stock worth $70,334,047. 60.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

IOT has been the subject of a number of research analyst reports. Berenberg Bank initiated coverage on shares of Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target for the company. Piper Sandler raised 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. Cowen reissued a “buy” rating on shares of Samsara in a report on Friday, March 7th. Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their target price on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Samsara presently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

Samsara Price Performance

IOT opened at $40.66 on Friday. The company has a 50 day simple moving average of $47.55 and a two-hundred day simple moving average of $48.08. The firm has a market cap of $22.82 billion, a P/E ratio of -86.51 and a beta of 1.63. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

About Samsara

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.