Westwind Capital Cuts Stake in Samsara Inc. (NYSE:IOT)

Westwind Capital lowered its stake in Samsara Inc. (NYSE:IOT) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 376,467 shares of the company’s stock after selling 1,169 shares during the quarter. Samsara comprises 3.6% of Westwind Capital’s portfolio, making the stock its 12th largest position. Westwind Capital’s holdings in Samsara were worth $16,448,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Resources Management Corp CT ADV boosted its stake in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Samsara in the third quarter worth about $34,000. National Bank of Canada FI acquired a new stake in Samsara during the 2nd quarter valued at approximately $38,000. Nemes Rush Group LLC acquired a new position in shares of Samsara in the 2nd quarter valued at approximately $45,000. Finally, Continuum Advisory LLC boosted its stake in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after buying an additional 247 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IOT has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. BMO Capital Markets boosted their price objective on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, December 6th. BNP Paribas assumed coverage on Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. Truist Financial upped 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.29.

Insider Activity

In other Samsara news, insider Adam Eltoukhy sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $50.00, for a total transaction of $200,000.00. Following the sale, the insider now owns 396,784 shares in the company, valued at approximately $19,839,200. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dominic Phillips sold 20,136 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $50.45, for a total transaction of $1,015,861.20. Following the sale, the insider now owns 882,664 shares in the company, valued at $44,530,398.80. This represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,226,359 shares of company stock worth $61,540,256 over the last 90 days. 60.04% of the stock is currently owned by company insiders.

Samsara Stock Performance

Shares of NYSE:IOT traded down $2.40 during trading on Tuesday, reaching $42.57. The company had a trading volume of 2,217,689 shares, compared to its average volume of 2,086,111. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $57.51. The firm has a market capitalization of $23.89 billion, a PE ratio of -90.57 and a beta of 1.59. The firm’s fifty day moving average is $49.20 and its 200 day moving average is $44.25.

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.