Quantinno Capital Management LP Takes $3.87 Million Position in Samsara Inc. (NYSE:IOT)

Quantinno 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 88,466 shares of the company's stock, valued at approximately $3,865,000.

Several other hedge funds have also recently made changes to their positions in IOT. SBI Securities Co. Ltd. purchased a new stake in Samsara during the 4th quarter valued at about $431,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Samsara by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company's stock worth $82,004,000 after purchasing an additional 47,911 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Samsara by 101.4% during the fourth quarter. Wells Fargo & Company MN now owns 129,176 shares of the company's stock worth $5,644,000 after purchasing an additional 65,028 shares during the period. Renaissance Technologies LLC boosted its position in Samsara by 30.4% in the fourth quarter. Renaissance Technologies LLC now owns 764,300 shares of the company's stock valued at $33,392,000 after buying an additional 178,102 shares during the last quarter. Finally, Vanguard Group Inc. increased 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 buying an additional 863,197 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on IOT. Morgan Stanley decreased their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler restated an "overweight" rating and set a $53.00 target price (up from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Royal Bank of Canada lowered their price target on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Raymond James assumed coverage on Samsara in a research note on Wednesday, February 26th. They set a "market perform" rating for the company. Finally, Craig Hallum restated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.47.

Insider Activity at Samsara

In other Samsara news, insider Sanjit Biswas sold 145,392 shares of Samsara stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $44.27, for a total transaction of $6,436,503.84. Following the sale, the insider now owns 120,000 shares of the company's stock, valued at $5,312,400. The trade was a 54.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dominic Phillips sold 20,534 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $40.40, for a total transaction of $829,573.60. Following the completion of the sale, the insider now owns 903,508 shares of the company's stock, valued at $36,501,723.20. This trade represents a 2.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,230,678 shares of company stock valued at $47,736,556. 60.04% of the stock is owned by company insiders.

Samsara Trading Up 1.1%

IOT traded up $0.49 during trading on Thursday, hitting $46.14. The company's stock had a trading volume of 3,065,391 shares, compared to its average volume of 3,746,458. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of -98.17 and a beta of 1.70. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90. The business's fifty day simple moving average is $40.07 and its 200 day simple moving average is $45.79.

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.