FMR LLC grew its stake in Samsara Inc. (NYSE:IOT - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,743,175 shares of the company's stock after purchasing an additional 2,852,575 shares during the period. FMR LLC owned approximately 2.63% of Samsara worth $644,129,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IOT. Jones Financial Companies Lllp bought a new position in Samsara in the fourth quarter valued at approximately $31,000. Hobbs Group Advisors LLC bought a new position in shares of Samsara during the third quarter worth approximately $34,000. IFP Advisors Inc boosted its position in shares of Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock valued at $35,000 after acquiring an additional 598 shares during the period. Continuum Advisory LLC increased its holdings in shares of Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after purchasing an additional 247 shares during the period. Finally, National Bank of Canada FI acquired a new position in Samsara in the 4th quarter valued at $45,000. 96.02% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have issued reports on IOT. Truist Financial decreased their target price on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. Raymond James initiated coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a "market perform" rating on the stock. BMO Capital Markets upgraded shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target on the stock in a research report on Monday, March 10th. Berenberg Bank began coverage on Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 target price for the company. Finally, Craig Hallum reissued a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $49.20.
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Samsara Stock Performance
IOT stock traded up $0.30 during midday trading on Friday, reaching $37.70. The stock had a trading volume of 2,642,386 shares, compared to its average volume of 3,768,893. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The stock has a market cap of $21.46 billion, a PE ratio of -80.21 and a beta of 1.71. The firm has a fifty day simple moving average of $44.21 and a two-hundred day simple moving average of $47.08.
Insider Activity at Samsara
In related news, insider Sanjit Biswas sold 13,086 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total transaction of $729,544.50. Following the completion of the transaction, the insider now owns 1,571,848 shares of the company's stock, valued at approximately $87,630,526. This trade represents a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 9,043 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the transaction, the insider now owns 331,106 shares of the company's stock, valued at $17,839,991.28. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,563,113 shares of company stock worth $66,802,508 in the last three months. Company insiders own 60.04% of the company's stock.
Samsara Profile
(Free Report)
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.
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