Plato Investment Management Ltd Reduces Position in Samsara Inc. (NYSE:IOT)

by · The Cerbat Gem

Plato Investment Management Ltd lowered its holdings in Samsara Inc. (NYSE:IOT – Free Report) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,346 shares of the company’s stock after selling 2,713 shares during the period. Plato Investment Management Ltd’s holdings in Samsara were worth $804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Continuum Advisory LLC grew its position in shares of Samsara by 39.1% in the third 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 period. Private Trust Co. NA grew its position in shares of Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after purchasing an additional 250 shares during the period. CIBC Asset Management Inc grew its position in shares of Samsara by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock valued at $253,000 after purchasing an additional 300 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after purchasing an additional 304 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Samsara by 5.1% in the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock valued at $383,000 after purchasing an additional 388 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Price Performance

Shares of IOT opened at $45.81 on Tuesday. The stock’s 50-day moving average is $49.35 and its two-hundred day moving average is $48.33. The stock has a market cap of $25.71 billion, a PE ratio of -97.47 and a beta of 1.61. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90.

Insider Buying and Selling

In related news, insider Dominic Phillips sold 20,136 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $50.45, for a total value of $1,015,861.20. Following the transaction, the insider now owns 882,664 shares in the company, valued at approximately $44,530,398.80. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjit Biswas sold 118,589 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $49.15, for a total value of $5,828,649.35. Following the completion of the transaction, the insider now owns 126,000 shares in the company, valued at approximately $6,192,900. This trade represents a 48.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,244,520 shares of company stock worth $58,644,560. 60.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on IOT. Loop Capital lifted their price objective on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada boosted their price target on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Morgan Stanley boosted their price target on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Piper Sandler boosted their price target on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, Truist Financial boosted their price target on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.67.

Get Our Latest Research Report on IOT

Samsara Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding IOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Samsara Inc. (NYSE:IOT – Free Report).