First Trust Advisors LP Has $56.54 Million Stock Position in Samsara Inc. (NYSE:IOT)

First Trust Advisors LP boosted its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,294,151 shares of the company's stock after buying an additional 115,501 shares during the period. First Trust Advisors LP owned 0.23% of Samsara worth $56,541,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. FMR LLC grew its holdings in shares of 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 purchasing an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC acquired a new stake in shares of Samsara in the fourth quarter worth $112,041,000. Norges Bank purchased a new position in shares of Samsara in the 4th quarter valued at $106,274,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Samsara by 107.6% during the 4th 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 in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Samsara by 1,909.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock valued at $90,026,000 after acquiring an additional 1,777,757 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Price Performance

IOT stock traded down $0.05 on Monday, reaching $39.37. The company's stock had a trading volume of 627,671 shares, compared to its average volume of 3,764,394. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90. The company has a market capitalization of $22.41 billion, a P/E ratio of -83.54 and a beta of 1.71. The firm has a fifty day moving average of $40.47 and a two-hundred day moving average of $46.38.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IOT. Piper Sandler lowered their target price on Samsara from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Cowen reaffirmed a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Wells Fargo & Company decreased their target price on shares of Samsara from $51.00 to $48.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target on the stock in a research note on Monday, March 10th. Finally, Berenberg Bank initiated coverage on shares of Samsara in a research report on Monday, February 3rd. They issued a "hold" rating and a $57.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $48.87.

Insider Buying and Selling

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company's stock in a transaction on Monday, March 10th. The stock was 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 accessible through the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.72, for a total transaction of $871,200.00. Following the completion of the sale, the director now owns 373,579 shares in the company, valued at approximately $14,464,978.88. This trade represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,350,384 shares of company stock valued at $55,413,757 over the last 90 days. 60.04% of the stock is currently owned by company insiders.

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.