Woodline Partners LP Invests $3.78 Million in Samsara Inc. (NYSE:IOT)

Woodline Partners LP purchased a new position in Samsara Inc. (NYSE:IOT - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 86,450 shares of the company's stock, valued at approximately $3,777,000.

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

Samsara Price Performance

Shares of IOT stock traded down $0.47 on Wednesday, hitting $46.32. The stock had a trading volume of 3,028,748 shares, compared to its average volume of 3,747,800. The company's 50 day moving average price is $40.63 and its 200-day moving average price is $45.66. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The firm has a market capitalization of $26.37 billion, a P/E ratio of -98.54 and a beta of 1.70.

Insider Buying and Selling

In related news, insider Adam Eltoukhy sold 3,903 shares of the company's 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 completion of the transaction, the insider now directly owns 320,936 shares of the company's stock, valued at $10,934,289.52. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjit Biswas sold 54,457 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $47.33, for a total transaction of $2,577,449.81. Following the completion of the transaction, the insider now owns 90,000 shares in the company, valued at $4,259,700. This represents a 37.70% 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Samsara from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Truist Financial dropped their target price on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. BMO Capital Markets raised Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a report on Monday, March 10th. Craig Hallum reiterated a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Finally, Morgan Stanley cut their price objective on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Samsara presently has an average rating of "Moderate Buy" and a consensus target price of $49.47.

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.