Elo Mutual Pension Insurance Co Lowers Holdings in Samsara Inc. (NYSE:IOT)

Elo Mutual Pension Insurance Co trimmed its stake in Samsara Inc. (NYSE:IOT) by 18.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,015 shares of the company’s stock after selling 3,409 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Samsara were worth $656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Samsara by 9.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 278,012 shares of the company’s stock valued at $12,764,000 after acquiring an additional 23,687 shares in the last quarter. Financial Engines Advisors L.L.C. increased its holdings in shares of Samsara by 1.7% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 65,899 shares of the company’s stock worth $2,879,000 after purchasing an additional 1,075 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Samsara by 0.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 860,092 shares of the company’s stock worth $37,577,000 after purchasing an additional 7,290 shares during the last quarter. Zevenbergen Capital Investments LLC bought a new position in shares of Samsara during the fourth quarter valued at $18,080,000. Finally, Vanguard Group Inc. boosted its position in shares of Samsara by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock valued at $916,555,000 after buying an additional 863,197 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Samsara Price Performance

Shares of NYSE:IOT opened at $38.87 on Monday. The firm’s 50 day simple moving average is $47.39 and its two-hundred day simple moving average is $48.05. The company has a market capitalization of $21.81 billion, a P/E ratio of -82.71 and a beta of 1.63. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

Insider Activity

In related news, insider Sanjit Biswas sold 59,114 shares of Samsara stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.25, for a total transaction of $2,674,908.50. Following the sale, the insider now owns 196,678 shares of the company’s stock, valued at approximately $8,899,679.50. This trade represents a 23.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Eltoukhy sold 3,903 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the transaction, the insider now directly owns 320,936 shares in the company, valued at approximately $10,934,289.52. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,607,296 shares of company stock worth $70,334,047 in the last three months. Company insiders own 60.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on IOT shares. Piper Sandler upgraded shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price on the stock in a research note on Monday, March 10th. Berenberg Bank initiated coverage on shares of Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective on the stock. Cowen reaffirmed a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Craig Hallum reissued a “hold” rating on shares of Samsara in a report on Friday, March 7th. Finally, Wells Fargo & Company cut their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.60.

Samsara Company 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.