Wealth Effects LLC Has $404,000 Holdings in Samsara Inc. (NYSE:IOT)

Wealth Effects LLC trimmed its position in shares of Samsara Inc. (NYSE:IOT) by 12.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,250 shares of the company’s stock after selling 1,300 shares during the period. Wealth Effects LLC’s holdings in Samsara were worth $404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in IOT. Hobbs Group Advisors LLC bought a new position in Samsara in the third quarter valued at approximately $34,000. Nemes Rush Group LLC acquired a new stake in shares of Samsara in the 2nd quarter valued at $45,000. Continuum Advisory LLC increased its stake in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after buying an additional 1,000 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Samsara Price Performance

IOT opened at $49.33 on Tuesday. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51. The company’s 50-day moving average is $47.99 and its 200 day moving average is $45.52. The firm has a market capitalization of $27.68 billion, a PE ratio of -104.95 and a beta of 1.59.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IOT shares. BMO Capital Markets raised their price target on shares of Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Piper Sandler increased their price target on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. TD Cowen boosted their price objective on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Loop Capital lifted their price target on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.29.

Insider Buying and Selling

In other Samsara news, insider Dominic Phillips sold 20,137 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $46.39, for a total value of $934,155.43. Following the completion of the sale, the insider now directly owns 882,664 shares of the company’s stock, valued at approximately $40,946,782.96. This represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $49.55, for a total transaction of $461,161.85. Following the completion of the sale, the insider now owns 396,784 shares of the company’s stock, valued at approximately $19,660,647.20. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,570,445 shares of company stock worth $76,112,970. 60.04% of the stock is owned by corporate insiders.

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.