Cornerstone Wealth Management LLC Has $239,000 Stock Holdings in Samsara Inc. (NYSE:IOT)

Cornerstone Wealth Management LLC boosted its holdings in Samsara Inc. (NYSE:IOT) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,462 shares of the company’s stock after buying an additional 722 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Samsara were worth $239,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Samsara in the 4th quarter valued at approximately $13,464,000. SG Americas Securities LLC boosted its stake in shares of Samsara by 210.5% in the 4th quarter. SG Americas Securities LLC now owns 33,962 shares of the company’s stock valued at $1,484,000 after purchasing an additional 23,023 shares in the last quarter. Perpetual Ltd acquired a new stake in Samsara in the fourth quarter valued at approximately $314,000. Legal Advantage Investments Inc. acquired a new stake in Samsara in the fourth quarter valued at approximately $218,000. Finally, UMB Bank n.a. boosted its position in Samsara by 62.1% in the fourth 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 in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Samsara

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IOT shares. Loop Capital raised their price objective on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Truist Financial lifted 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. Piper Sandler lifted their price target on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company lifted their target price on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.29.

Samsara Trading Up 0.4 %

Shares of Samsara stock opened at $48.18 on Monday. The business has a 50-day moving average price of $47.99 and a two-hundred day moving average price of $45.36. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $57.51. The company has a market cap of $27.04 billion, a P/E ratio of -102.51 and a beta of 1.59.

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.