Two Sigma Advisers LP Acquires 620,300 Shares of Samsara Inc. (NYSE:IOT)

Two Sigma Advisers LP raised its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 90.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,307,400 shares of the company's stock after buying an additional 620,300 shares during the period. Two Sigma Advisers LP owned about 0.23% of Samsara worth $57,120,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 414 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Samsara in the 4th quarter worth about $31,000. IFP Advisors Inc lifted its position in shares of 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 during the period. National Bank of Canada FI purchased a new stake in shares of Samsara in the 4th quarter worth about $45,000. Finally, UMB Bank n.a. lifted its position in shares of Samsara by 62.1% in the 4th 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. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Buying and Selling at Samsara

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjit Biswas sold 145,392 shares of Samsara stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $44.27, for a total transaction of $6,436,503.84. Following the completion of the sale, the insider now owns 120,000 shares of the company's stock, valued at $5,312,400. This represents a 54.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,560,678 shares of company stock worth $63,152,124. 60.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IOT. Royal Bank of Canada dropped their target price on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Truist Financial dropped their target price on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research report on Friday, March 7th. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Cowen reaffirmed a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Finally, Piper Sandler reissued an "overweight" rating and set a $53.00 price target (up from $44.00) on shares of Samsara in a research report on Wednesday, May 14th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Samsara has a consensus rating of "Moderate Buy" and a consensus price target of $49.47.

Samsara Trading Down 1.0%

NYSE:IOT traded down $0.47 on Friday, reaching $45.67. 1,909,616 shares of the stock traded hands, compared to its average volume of 3,756,216. The company has a market capitalization of $26.00 billion, a price-to-earnings ratio of -97.17 and a beta of 1.70. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The company's fifty day simple moving average is $40.37 and its 200 day simple moving average is $45.74.

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.