Contravisory Investment Management Inc. Sells 2,923 Shares of Samsara Inc. (NYSE:IOT)

Contravisory Investment Management Inc. trimmed its position in shares of Samsara Inc. (NYSE:IOT) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,969 shares of the company’s stock after selling 2,923 shares during the quarter. Samsara accounts for approximately 1.8% of Contravisory Investment Management Inc.’s holdings, making the stock its 25th largest position. Contravisory Investment Management Inc.’s holdings in Samsara were worth $8,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. lifted its holdings in Samsara by 23.4% in the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after acquiring an additional 6,411,178 shares during the period. FMR LLC increased its position in shares of Samsara by 15.6% during the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after purchasing an additional 1,604,822 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Samsara by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after buying an additional 500,400 shares during the last quarter. Westfield Capital Management Co. LP grew its position in Samsara by 4.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after buying an additional 138,702 shares during the period. Finally, Geode Capital Management LLC raised its position in Samsara by 9.5% in the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock worth $109,307,000 after acquiring an additional 196,867 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IOT shares. Royal Bank of Canada upped their price target on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. BMO Capital Markets upped their target price on shares of Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Morgan Stanley raised their price target on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Wells Fargo & Company upped their price objective on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Craig Hallum began coverage on Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.29.

Samsara Stock Performance

Shares of IOT stock opened at $45.70 on Thursday. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $57.51. The stock’s 50 day simple moving average is $48.72 and its two-hundred day simple moving average is $44.79.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 42,994 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $48.55, for a total value of $2,087,358.70. Following the completion of the sale, the chief executive officer now owns 440,892 shares of the company’s stock, valued at $21,405,306.60. This trade represents a 8.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 396,079 shares in the company, valued at approximately $17,970,104.23. The trade was 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 1,436,126 shares of company stock worth $70,268,870. Company insiders own 60.04% of the company’s stock.

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.