Concentrum Wealth Management Acquires 2,500 Shares of Samsara Inc. (NYSE:IOT)

Concentrum Wealth Management increased its stake in Samsara Inc. (NYSE:IOT) by 17.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,900 shares of the company’s stock after buying an additional 2,500 shares during the period. Concentrum Wealth Management’s holdings in Samsara were worth $738,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in Samsara during the fourth quarter worth $31,000. Hobbs Group Advisors LLC purchased a new position in shares of Samsara in the 3rd quarter worth approximately $34,000. IFP Advisors Inc grew its stake in 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 during the period. Continuum Advisory LLC grew its position 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 acquiring an additional 247 shares during the period. Finally, National Bank of Canada FI purchased a new position in Samsara in the fourth quarter valued at approximately $45,000. 96.02% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 13,086 shares of Samsara stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the sale, the insider now owns 1,571,848 shares of the company’s stock, valued at approximately $87,630,526. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam Eltoukhy sold 9,043 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following the transaction, the insider now owns 331,106 shares of the company’s stock, valued at approximately $17,839,991.28. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,569,339 shares of company stock valued at $68,470,932. 60.04% of the stock is owned by company insiders.

Samsara Price Performance

Shares of IOT stock opened at $33.51 on Monday. The company has a market cap of $19.08 billion, a price-to-earnings ratio of -71.30 and a beta of 1.71. The stock’s fifty day moving average price is $46.30 and its 200 day moving average price is $47.67. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IOT. Wells Fargo & Company reduced their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada lowered their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Piper Sandler raised Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target on the stock in a research note on Monday, March 10th. Berenberg Bank began coverage on Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target on the stock. Finally, BMO Capital Markets raised shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Samsara currently has an average rating of “Moderate Buy” and an average price target of $49.60.

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.