Hudson Bay Capital Management LP Makes New Investment in Samsara Inc. (NYSE:IOT)

Hudson Bay Capital Management LP acquired a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 90,744 shares of the company's stock, valued at approximately $3,965,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Samsara by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock worth $916,555,000 after purchasing an additional 863,197 shares in the last quarter. FMR LLC lifted its holdings in Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after purchasing an additional 2,852,575 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Samsara by 107.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after purchasing an additional 2,148,081 shares in the last quarter. Invesco Ltd. lifted its holdings in Samsara by 13.7% in the 4th quarter. Invesco Ltd. now owns 3,476,945 shares of the company's stock worth $151,908,000 after purchasing an additional 419,163 shares in the last quarter. Finally, Amundi lifted its holdings in Samsara by 22.2% in the 4th quarter. Amundi now owns 3,013,265 shares of the company's stock worth $133,126,000 after purchasing an additional 547,390 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IOT has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Raymond James initiated coverage on Samsara in a report on Wednesday, February 26th. They set a "market perform" rating on the stock. Truist Financial decreased their price objective on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 price objective (up from $44.00) on shares of Samsara in a report on Wednesday. Finally, Royal Bank of Canada decreased their price objective on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Samsara currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.47.

Insider Buying and Selling at Samsara

In related news, insider Adam Eltoukhy sold 9,043 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total value of $487,236.84. Following the sale, the insider now owns 331,106 shares in the company, valued at approximately $17,839,991.28. The trade was a 2.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sanjit Biswas sold 21,735 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $42.98, for a total value of $934,170.30. Following the completion of the sale, the insider now owns 985,789 shares in the company, valued at $42,369,211.22. This represents a 2.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,239,721 shares of company stock worth $48,223,793 over the last quarter. 60.04% of the stock is currently owned by company insiders.

Samsara Stock Down 1.4%

NYSE:IOT traded down $0.69 on Thursday, reaching $47.05. The company's stock had a trading volume of 1,974,562 shares, compared to its average volume of 3,748,212. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The firm has a market cap of $26.79 billion, a price-to-earnings ratio of -100.11 and a beta of 1.70. The stock has a 50 day moving average price of $39.29 and a 200 day moving average price of $45.82.

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.