Exchange Traded Concepts LLC Sells 41,965 Shares of Samsara Inc. (NYSE:IOT)

Exchange Traded Concepts LLC lessened its position in Samsara Inc. (NYSE:IOT) by 10.5% in the 4th quarter, Holdings Channel reports. The firm owned 356,347 shares of the company’s stock after selling 41,965 shares during the period. Exchange Traded Concepts LLC’s holdings in Samsara were worth $15,569,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 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 Samsara in the 2nd quarter valued at approximately $45,000. Continuum Advisory LLC lifted its stake in 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 acquiring an additional 247 shares in the last quarter. UMB Bank n.a. boosted its position in 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 acquiring an additional 418 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake 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 acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Price Performance

NYSE:IOT opened at $48.19 on Friday. The company has a market cap of $27.04 billion, a P/E ratio of -102.64 and a beta of 1.59. The firm’s fifty day moving average price is $48.02 and its two-hundred day moving average price is $45.20. Samsara Inc. has a one year low of $27.14 and a one year high of $57.51.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 42,994 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total transaction of $2,087,358.70. Following the transaction, the chief executive officer now owns 440,892 shares in the company, valued at $21,405,306.60. This trade represents a 8.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Bicket sold 42,942 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $48.55, for a total transaction of $2,084,834.10. Following the completion of the transaction, the insider now owns 720,678 shares in the company, valued at $34,988,916.90. This trade represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,656,381 shares of company stock valued at $80,285,162. Company insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

IOT has been the subject of several recent research reports. BMO Capital Markets increased 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. JPMorgan Chase & Co. increased their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Loop Capital lifted their target price on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company increased their price target on Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, Craig Hallum assumed coverage on Samsara in a research report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target on the stock. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Samsara currently has a consensus rating of “Hold” and an average target price of $51.29.

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.