Focus Partners Wealth Has $623,000 Position in Samsara Inc. (NYSE:IOT)

Focus Partners Wealth increased its position in Samsara Inc. (NYSE:IOT - Free Report) by 80.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,257 shares of the company's stock after buying an additional 6,339 shares during the period. Focus Partners Wealth's holdings in Samsara were worth $623,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after buying an additional 414 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Samsara during the fourth quarter worth approximately $31,000. IFP Advisors Inc boosted its position in Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares during the period. National Bank of Canada FI bought a new stake in Samsara during the fourth quarter worth approximately $45,000. Finally, UMB Bank n.a. boosted its position in Samsara by 62.1% during the fourth quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock worth $72,000 after purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Trading Up 0.5%

Shares of NYSE IOT opened at $47.66 on Tuesday. The business has a fifty day simple moving average of $39.72 and a 200 day simple moving average of $45.78. The firm has a market capitalization of $27.13 billion, a price-to-earnings ratio of -101.40 and a beta of 1.70. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90.

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 3,903 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the transaction, the insider now directly owns 320,936 shares in the company, valued at approximately $10,934,289.52. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjit Biswas sold 21,735 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $42.98, for a total value of $934,170.30. Following the transaction, the insider now owns 985,789 shares of the company's stock, valued at $42,369,211.22. This represents a 2.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,239,721 shares of company stock worth $48,223,793. 60.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IOT shares. Berenberg Bank started coverage on Samsara in a research report on Monday, February 3rd. They set a "hold" rating and a $57.00 target price for the company. BMO Capital Markets raised Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 target price for the company in a research report on Monday, March 10th. Wells Fargo & Company decreased 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. Cowen reissued a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Finally, 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 report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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