Worldquant Millennium Advisors LLC Reduces Stock Position in Samsara Inc. (NYSE:IOT)

Worldquant Millennium Advisors LLC lessened its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 39.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,082 shares of the company's stock after selling 30,538 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Samsara were worth $2,013,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Samsara during the fourth quarter valued at about $431,000. Charles Schwab Investment Management Inc. raised its position in Samsara by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company's stock valued at $82,004,000 after purchasing an additional 47,911 shares during the period. Wells Fargo & Company MN raised its position in Samsara by 101.4% in the fourth quarter. Wells Fargo & Company MN now owns 129,176 shares of the company's stock valued at $5,644,000 after purchasing an additional 65,028 shares during the period. Renaissance Technologies LLC lifted its stake in Samsara by 30.4% during the fourth quarter. Renaissance Technologies LLC now owns 764,300 shares of the company's stock worth $33,392,000 after purchasing an additional 178,102 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Samsara by 4.3% during the fourth 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 currently owned by institutional investors and hedge funds.

Samsara Stock Up 2.5%

NYSE:IOT traded up $1.13 during midday trading on Tuesday, reaching $46.63. The stock had a trading volume of 1,648,743 shares, compared to its average volume of 3,884,921. The stock has a market cap of $26.55 billion, a P/E ratio of -99.21 and a beta of 1.70. The firm has a fifty day simple moving average of $40.49 and a two-hundred day simple moving average of $45.65. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90.

Wall Street Analysts Forecast Growth

IOT has been the topic of several research analyst reports. BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a report on Monday, March 10th. Berenberg Bank began coverage on Samsara in a research report on Monday, February 3rd. They issued a "hold" rating and a $57.00 target price for the company. Royal Bank of Canada dropped their price objective on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 target price (up from $44.00) on shares of Samsara in a research note on Wednesday, May 14th. Finally, Truist Financial decreased their price target 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. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $49.47.

Insider Transactions at Samsara

In related news, insider Sanjit Biswas sold 145,392 shares of the company's stock in a transaction 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Bicket sold 52,573 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $46.25, for a total value of $2,431,501.25. Following the completion of the sale, the insider now directly owns 167,745 shares of the company's stock, valued at approximately $7,758,206.25. This trade represents a 23.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,442,089 shares of company stock worth $57,323,475. Company insiders own 60.04% of the company's stock.

About Samsara

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.