Cibc World Markets Corp Sells 2,201 Shares of Samsara Inc. (NYSE:IOT)

Cibc World Markets Corp cut its stake in shares of Samsara Inc. (NYSE:IOT) by 18.2% in the fourth quarter, HoldingsChannel reports. The fund owned 9,886 shares of the company’s stock after selling 2,201 shares during the period. Cibc World Markets Corp’s holdings in Samsara were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp bought a new position in shares of Samsara during the 4th quarter valued at approximately $31,000. Hobbs Group Advisors LLC bought a new position in shares of Samsara during the 3rd quarter valued at approximately $34,000. IFP Advisors Inc grew its stake in shares of Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after acquiring an additional 598 shares during the period. Continuum Advisory LLC boosted its stake 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 purchasing an additional 247 shares during the period. Finally, Private Trust Co. NA boosted its stake 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.

Insider Activity at Samsara

In other news, insider Sanjit Biswas sold 48,884 shares of Samsara stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $45.36, for a total transaction of $2,217,378.24. Following the completion of the sale, the insider now directly owns 2,007,964 shares in the company, valued at approximately $91,081,247.04. This trade represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $45.37, for a total value of $1,020,825.00. Following the sale, the director now owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,573,317 shares of company stock worth $69,108,479. Company insiders own 60.04% of the company’s stock.

Wall Street Analysts Forecast Growth

IOT has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Piper Sandler upgraded Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target for the company in a research note on Monday, March 10th. Truist Financial dropped their price target on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, March 7th. BMO Capital Markets upgraded Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research note on Monday, March 10th. Finally, Royal Bank of Canada dropped their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

Samsara Stock Performance

NYSE:IOT opened at $40.26 on Monday. The stock’s fifty day moving average is $47.80 and its 200 day moving average is $48.16. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The firm has a market capitalization of $22.59 billion, a PE ratio of -85.65 and a beta of 1.63.

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.