Harbor Capital Advisors Inc. Sells 12,463 Shares of Samsara Inc. (NYSE:IOT)

Harbor Capital Advisors Inc. decreased its position in Samsara Inc. (NYSE:IOT) by 8.3% during the fourth quarter, HoldingsChannel.com reports. 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 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of IOT. Hobbs Group Advisors LLC purchased a new position in shares of Samsara in the third quarter valued at $34,000. Continuum Advisory LLC lifted its position in Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares during the last quarter. Resources Management Corp CT ADV grew its stake in shares of 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 in the last quarter. UMB Bank n.a. increased its holdings in shares of Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Samsara during the 2nd quarter valued at about $38,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on IOT shares. Loop Capital lifted their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. BNP Paribas initiated coverage on Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. TD Cowen lifted their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Royal Bank of Canada increased their target price 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. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.29.

Samsara Price Performance

Shares of IOT stock opened at $43.92 on Friday. The company’s 50-day simple moving average is $48.87 and its two-hundred day simple moving average is $44.44. Samsara Inc. has a one year low of $27.14 and a one year high of $57.51. The company has a market capitalization of $24.65 billion, a P/E ratio of -93.45 and a beta of 1.59.

Insider Buying and Selling

In related news, insider Adam Eltoukhy sold 9,308 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total value of $471,357.12. Following the completion of the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at $20,093,141.76. This represents a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjit Biswas sold 58,739 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.61, for a total transaction of $2,972,780.79. Following 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 quarter. 60.04% of the stock is owned by corporate insiders.

About Samsara

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.