Samsara Inc. (NYSE:IOT) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in Samsara Inc. (NYSE:IOT - Free Report) by 44.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,549 shares of the company's stock after acquiring an additional 15,039 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Samsara were worth $2,121,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GLOBALT Investments LLC GA raised its stake in Samsara by 0.3% in the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock worth $2,444,000 after purchasing an additional 182 shares in the last quarter. CIBC Asset Management Inc raised its stake in Samsara by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock worth $253,000 after purchasing an additional 300 shares in the last quarter. abrdn plc raised its stake in Samsara by 11.6% in the 4th quarter. abrdn plc now owns 4,792 shares of the company's stock worth $210,000 after purchasing an additional 498 shares in the last quarter. Wellington Management Group LLP raised its stake in Samsara by 7.3% in the 4th quarter. Wellington Management Group LLP now owns 8,538 shares of the company's stock worth $373,000 after purchasing an additional 579 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Stock Performance

IOT traded up $0.75 on Thursday, hitting $40.41. 1,203,514 shares of the company were exchanged, compared to its average volume of 3,756,026. The firm has a fifty day simple moving average of $39.52 and a two-hundred day simple moving average of $46.21. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The stock has a market capitalization of $23.01 billion, a PE ratio of -86.13 and a beta of 1.71.

Analyst Ratings Changes

Several equities analysts have commented on the stock. BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 target price on the stock in a report on Monday, March 10th. Truist Financial lowered their target price on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research report on Friday, March 7th. Morgan Stanley lowered their target price on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company lowered their target price on Samsara from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Raymond James assumed coverage on Samsara in a research report on Wednesday, February 26th. They set a "market perform" rating for the company. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.87.

Insider Transactions at Samsara

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 3,903 shares of Samsara stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.07, for a total transaction of $132,975.21. Following the transaction, the insider now directly owns 320,936 shares in the company, valued at $10,934,289.52. This represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,243,232 shares of company stock worth $49,935,075. 60.04% of the stock is currently owned by insiders.

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.