Carnegie Investment Counsel lessened its holdings in Samsara Inc. (NYSE:IOT – Free Report) by 30.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,980 shares of the company’s stock after selling 22,000 shares during the quarter. Carnegie Investment Counsel’s holdings in Samsara were worth $1,616,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of IOT. Fifth Third Bancorp lifted its holdings in Samsara by 226.3% during the 1st quarter. Fifth Third Bancorp now owns 54,335 shares of the company’s stock worth $1,722,000 after buying an additional 37,683 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Samsara by 218.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 22,846 shares of the company’s stock worth $724,000 after acquiring an additional 15,671 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Samsara by 14.9% in the 1st quarter. Hsbc Holdings PLC now owns 135,137 shares of the company’s stock valued at $4,273,000 after acquiring an additional 17,511 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Samsara by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 636,600 shares of the company’s stock valued at $20,174,000 after acquiring an additional 5,109 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. raised its position in shares of Samsara by 0.9% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 100,942 shares of the company’s stock worth $3,184,000 after acquiring an additional 910 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.
Samsara Stock Performance
Samsara stock opened at $36.80 on Tuesday. Samsara Inc. has a fifty-two week low of $23.38 and a fifty-two week high of $47.47. The company has a market capitalization of $21.44 billion, a P/E ratio of 368.06, a PEG ratio of 8.61 and a beta of 1.35. The stock has a 50-day simple moving average of $32.57 and a 200-day simple moving average of $31.40.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Samsara from $46.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 5th. BTIG Research reiterated a “buy” rating and issued a $45.00 price target on shares of Samsara in a research note on Friday, June 26th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective (up from $39.00) on shares of Samsara in a report on Friday, June 5th. KeyCorp restated an “overweight” rating on shares of Samsara in a research report on Friday, June 26th. Finally, Zacks Research cut shares of Samsara from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.94.
Insider Buying and Selling
In other news, insider John Bicket sold 17,975 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $35.11, for a total value of $631,102.25. Following the completion of the sale, the insider directly owned 1,758,795 shares of the company’s stock, valued at approximately $61,751,292.45. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Benjamin Louis Kirchhoff sold 2,549 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $33.74, for a total transaction of $86,003.26. Following the transaction, the chief accounting officer owned 167,269 shares in the company, valued at approximately $5,643,656.06. This trade represents a 1.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 4,663,362 shares of company stock valued at $150,086,270 in the last 90 days. Company insiders own 35.13% of the company’s stock.
Samsara Profile
Samsara develops an industrial Internet of Things (IoT) platform designed to help organizations monitor, manage, and optimize physical operations. The company combines connected hardware — including telematics devices, GPS trackers, dash cameras, and environmental sensors — with cloud-based software to provide real-time visibility into vehicles, mobile equipment, and fixed assets. Its software offers tools for fleet management, driver and worker safety, asset tracking, compliance (including electronic logging), maintenance scheduling, and operational analytics.
The Samsara platform emphasizes integration of live data streams with analytics and workflow features to drive efficiency and safety across industries that rely on dispersed equipment and mobile workforces.
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