Cresset Asset Management LLC Lowers Holdings in Samsara Inc. (NYSE:IOT)

Cresset Asset Management LLC trimmed its position in shares of Samsara Inc. (NYSE:IOT) by 30.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,008 shares of the company’s stock after selling 2,203 shares during the period. Cresset Asset Management LLC’s holdings in Samsara were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC raised its holdings in shares of Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after acquiring an additional 414 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Samsara during the 4th quarter worth approximately $31,000. IFP Advisors Inc raised its holdings 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 acquiring an additional 598 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Samsara during the 4th quarter worth approximately $45,000. Finally, UMB Bank n.a. raised its holdings in shares of Samsara by 62.1% during the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock worth $72,000 after acquiring an additional 635 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Samsara

In other Samsara news, Director Jonathan Chadwick sold 22,500 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.72, for a total value of $871,200.00. Following the transaction, the director now owns 373,579 shares of the company’s stock, valued at $14,464,978.88. This represents a 5.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 3,903 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the transaction, the insider now directly owns 320,936 shares in the company, valued at $10,934,289.52. The trade was a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,239,721 shares of company stock valued at $48,223,793 in the last quarter. 60.04% of the stock is owned by insiders.

Samsara Stock Up 1.1%

Shares of Samsara stock opened at $47.46 on Monday. The stock’s fifty day moving average is $39.52 and its two-hundred day moving average is $45.77. The company has a market capitalization of $27.02 billion, a PE ratio of -100.98 and a beta of 1.70. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IOT. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective (up from $44.00) on shares of Samsara in a report on Wednesday. Royal Bank of Canada cut their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Truist Financial cut their target price on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Craig Hallum reissued a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Finally, Raymond James initiated coverage on Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating on the stock. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.47.

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.