Bank of America Corp DE Raises Stock Position in Samsara Inc. (NYSE:IOT)

Bank of America Corp DE boosted its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,175,231 shares of the company's stock after acquiring an additional 68,953 shares during the quarter. Bank of America Corp DE owned 0.21% of Samsara worth $51,346,000 at the end of the most recent quarter.

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

Samsara Stock Performance

Shares of IOT traded up $0.53 during midday trading on Friday, hitting $47.46. 2,949,121 shares of the company traded hands, compared to its average volume of 3,748,585. The firm has a 50 day moving average of $39.52 and a 200-day moving average of $45.81. 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 $27.02 billion, a price-to-earnings ratio of -100.98 and a beta of 1.70.

Insider Activity at Samsara

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Truist Financial reduced their price objective on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Piper Sandler restated an "overweight" rating and issued a $53.00 price objective (up from $44.00) on shares of Samsara in a research note on Wednesday. Cowen restated a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Craig Hallum restated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Finally, Berenberg Bank assumed coverage on Samsara in a research note on Monday, February 3rd. They issued a "hold" rating and a $57.00 price objective for the company. Nine 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.47.

Samsara 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.