5 Tech Stocks to Sell in 2022 According to Billionaire Stanley Druckenmiller

2. Samsara Inc. (NYSE:IOT)

Number of Hedge Fund Holders: 23

Samsara Inc. (NYSE:IOT) is an IoT company based in San Francisco, California, specializing in cloud-based tracking of vehicle fleets and other equipment. Stanley Druckenmiller added Samsara Inc. (NYSE:IOT) to his Q4 portfolio by buying 272,700 shares worth $7.6 million. In Q1 2022, the billionaire sold out of his position completely. The stock slid over 20% in the last month. 

The company reported its Q4 2021 results on March 2. Samsara Inc. (NYSE:IOT)’s loss per share for the quarter was $0.05, beating estimates by $0.03. The $125.75 million revenue outperformed Street estimates by $9.43 million. 

Among the hedge funds tracked by Insider Monkey, 23 funds reported owning stakes in Samsara Inc. (NYSE:IOT) at the end of December 2021, collectively worth $225.4 million.