TimesSquare Capital Management LLC Sells 150,615 Shares of Samsara Inc. (NYSE:IOT)

TimesSquare Capital Management LLC lessened its holdings in shares of Samsara Inc. (NYSE:IOT) by 17.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,946 shares of the company’s stock after selling 150,615 shares during the period. TimesSquare Capital Management LLC owned approximately 0.13% of Samsara worth $31,498,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of IOT. Hobbs Group Advisors LLC acquired a new stake in Samsara in the 3rd quarter valued at approximately $34,000. Continuum Advisory LLC raised its position 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 buying an additional 247 shares during the last quarter. UMB Bank n.a. raised its position in Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock valued at $72,000 after buying an additional 635 shares during the last quarter. Private Trust Co. NA raised its position in Samsara by 19.2% in the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after buying an additional 250 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Samsara by 77.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock valued at $91,000 after buying an additional 821 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler lifted their target price on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. BMO Capital Markets lifted their target price on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Morgan Stanley boosted their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Finally, Berenberg Bank initiated coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Samsara has an average rating of “Hold” and a consensus target price of $51.67.

Insider Buying and Selling

In related news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total value of $5,160,489.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 75,594 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the completion of the sale, the chief executive officer now owns 120,292 shares of the company’s stock, valued at $6,723,119.88. This trade represents a 38.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,543,006 shares of company stock valued at $75,774,307. 60.04% of the stock is owned by insiders.

Samsara Price Performance

IOT stock opened at $60.82 on Wednesday. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.14. The business’s 50 day simple moving average is $48.37 and its 200 day simple moving average is $47.52.

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.