Two Sigma Investments LP Boosts Stake in Samsara Inc. (NYSE:IOT)

Two Sigma Investments LP lifted its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 52.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,433,355 shares of the company's stock after purchasing an additional 491,550 shares during the quarter. Two Sigma Investments LP owned about 0.26% of Samsara worth $62,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Samsara by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock valued at $916,555,000 after acquiring an additional 863,197 shares during the period. FMR LLC boosted its stake in shares of Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after buying an additional 2,852,575 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Samsara by 107.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock valued at $181,045,000 after buying an additional 2,148,081 shares during the period. Invesco Ltd. boosted its stake in shares of Samsara by 13.7% in the 4th quarter. Invesco Ltd. now owns 3,476,945 shares of the company's stock valued at $151,908,000 after buying an additional 419,163 shares during the period. Finally, Amundi boosted its stake in shares of Samsara by 22.2% in the 4th quarter. Amundi now owns 3,013,265 shares of the company's stock valued at $133,126,000 after buying an additional 547,390 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Price Performance

Shares of IOT stock traded up $0.49 during midday trading on Thursday, hitting $46.14. The company had a trading volume of 3,065,391 shares, compared to its average volume of 3,755,124. The company's 50 day simple moving average is $40.22 and its 200 day simple moving average is $45.79. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The stock has a market cap of $26.27 billion, a price-to-earnings ratio of -98.17 and a beta of 1.70.

Insider Buying and Selling at Samsara

In other Samsara news, insider Adam Eltoukhy sold 3,903 shares of Samsara stock in a transaction that occurred 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 transaction, the insider now directly owns 320,936 shares in the company, valued at approximately $10,934,289.52. This trade represents a 1.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dominic Phillips sold 20,534 shares of Samsara stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $40.40, for a total value of $829,573.60. Following the completion of the transaction, the insider now owns 903,508 shares in the company, 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 ninety days, insiders have sold 1,560,678 shares of company stock worth $63,152,124. 60.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on IOT. BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective for the company in a research note on Monday, March 10th. Cowen reiterated a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Wall Street Zen upgraded Samsara from a "hold" rating to a "buy" rating in a research note on Thursday. Truist Financial decreased their price objective on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Finally, Morgan Stanley decreased their price objective on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.47.

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.