Harbor Capital Advisors Inc. Cuts Holdings in Samsara Inc. (NYSE:IOT)

Harbor Capital Advisors Inc. lowered its holdings in Samsara Inc. (NYSE:IOT) by 8.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,312 shares of the company’s stock after selling 12,463 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Samsara were worth $6,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Samsara Stock Performance

IOT opened at $43.92 on Friday. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51. The stock has a market cap of $24.65 billion, a price-to-earnings ratio of -93.45 and a beta of 1.59. The firm’s fifty day moving average is $48.87 and its 200 day moving average is $44.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. BNP Paribas initiated coverage on Samsara in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price on the stock. Truist Financial boosted their price target on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Loop Capital increased their price objective on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. 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 report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Samsara has an average rating of “Hold” and an average price target of $51.29.

Insider Buying and Selling at Samsara

In other Samsara news, insider John Bicket sold 75,600 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $55.89, for a total transaction of $4,225,284.00. Following the completion of the sale, the insider now directly owns 400,020 shares of the company’s stock, valued at $22,357,117.80. This trade represents a 15.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 58,739 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $50.61, for a total transaction of $2,972,780.79. Following the completion of the transaction, the chief executive officer now directly owns 617,147 shares in the company, valued at $31,233,809.67. This trade represents a 8.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,281,473 shares of company stock valued at $64,015,165 over the last ninety days. 60.04% of the stock is currently owned by company insiders.

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.