Wealthedge Investment Advisors LLC bought a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,110 shares of the company's stock, valued at approximately $398,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after buying an additional 2,852,575 shares during the last quarter. Jordan Park Trust Co LLC purchased a new position in Samsara during the 4th quarter worth approximately $112,041,000. Norges Bank purchased a new position in Samsara during the 4th quarter worth approximately $106,274,000. Arrowstreet Capital Limited Partnership grew its stake in Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after buying an additional 2,148,081 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Samsara by 577.7% during the 4th quarter. Franklin Resources Inc. now owns 1,458,813 shares of the company's stock worth $63,736,000 after buying an additional 1,243,561 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.
Analyst Ratings Changes
A number of research firms recently issued reports on IOT. Wall Street Zen downgraded Samsara from a "buy" rating to a "hold" rating in a research note on Friday. Morgan Stanley dropped their price target on Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Raymond James began coverage on Samsara in a research note on Wednesday, February 26th. They set a "market perform" rating on the stock. Wells Fargo & Company dropped their price target on Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Finally, Craig Hallum reiterated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $49.47.
Read Our Latest Stock Analysis on IOT
Insider Activity
In other news, insider Sanjit Biswas sold 145,392 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $44.27, for a total value of $6,436,503.84. Following the completion of the sale, the insider now directly owns 120,000 shares of the company's stock, valued at $5,312,400. This trade represents a 54.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 31,042 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $35.89, for a total value of $1,114,097.38. Following the completion of the sale, the insider now directly owns 331,106 shares of the company's stock, valued at $11,883,394.34. This represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,442,089 shares of company stock valued at $57,323,475 in the last three months. 60.04% of the stock is currently owned by company insiders.
Samsara Trading Up 1.7%
Shares of IOT traded up $0.80 during mid-day trading on Friday, hitting $46.58. The company's stock had a trading volume of 6,666,624 shares, compared to its average volume of 3,756,113. The firm has a 50-day simple moving average of $40.83 and a 200 day simple moving average of $45.62. The firm has a market capitalization of $26.52 billion, a P/E ratio of -99.11 and a beta of 1.70. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.
Samsara Profile
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Free Report)
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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