Lord Abbett & CO. LLC Sells 519,801 Shares of Samsara Inc. (NYSE:IOT)

Lord Abbett & CO. LLC trimmed its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 27.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,351,063 shares of the company's stock after selling 519,801 shares during the quarter. Lord Abbett & CO. LLC owned about 0.24% of Samsara worth $59,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in IOT. Barclays PLC boosted its stake in Samsara by 163.2% during the third quarter. Barclays PLC now owns 412,066 shares of the company's stock valued at $19,829,000 after buying an additional 255,532 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Samsara during the 3rd quarter valued at about $1,689,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Samsara in the 3rd quarter worth approximately $546,000. Franklin Resources Inc. bought a new stake in shares of Samsara in the 3rd quarter worth approximately $10,868,000. Finally, Everence Capital Management Inc. acquired a new stake in Samsara during the fourth quarter valued at approximately $242,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Samsara

In other Samsara 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 legal filing with the SEC, which is available through the SEC website. Also, insider Adam Eltoukhy sold 3,903 shares of Samsara stock in a transaction on Monday, March 10th. The shares were 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 of the company's stock, valued at approximately $10,934,289.52. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,243,232 shares of company stock worth $49,935,075. 60.04% of the stock is owned by insiders.

Samsara Stock Up 2.1 %

Shares of NYSE:IOT traded up $0.83 on Thursday, reaching $40.49. The company had a trading volume of 1,021,541 shares, compared to its average volume of 3,755,269. The stock has a market capitalization of $23.05 billion, a P/E ratio of -86.20 and a beta of 1.71. The stock has a 50-day moving average price of $39.52 and a 200 day moving average price of $46.21. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90.

Wall Street Analysts Forecast Growth

IOT has been the topic of several research reports. Piper Sandler dropped their price target on Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada decreased their target price 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. Raymond James began coverage on shares of Samsara in a report on Wednesday, February 26th. They set a "market perform" rating on the stock. Finally, BMO Capital Markets upgraded shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a research report on Monday, March 10th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of "Moderate Buy" and a consensus target price of $48.87.

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.