Raymond James Financial Inc. Invests $2.63 Million in Samsara Inc. (NYSE:IOT)

Raymond James Financial Inc. purchased a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,286 shares of the company's stock, valued at approximately $2,634,000.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Samsara by 163.2% in the third quarter. Barclays PLC now owns 412,066 shares of the company's stock worth $19,829,000 after purchasing an additional 255,532 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Samsara during the 3rd quarter valued at about $1,689,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Samsara in the third quarter worth approximately $546,000. Franklin Resources Inc. purchased a new position in shares of Samsara during the third quarter valued at approximately $10,868,000. Finally, Lord Abbett & CO. LLC lifted its position in Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock valued at $90,026,000 after purchasing an additional 1,777,757 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Trading Up 3.3 %

Shares of NYSE:IOT traded up $1.34 during midday trading on Friday, reaching $41.39. 2,603,388 shares of the company were exchanged, compared to its average volume of 3,757,937. The stock has a market cap of $23.56 billion, a PE ratio of -88.06 and a beta of 1.71. The business's fifty day moving average is $39.31 and its two-hundred day moving average is $46.14. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BMO Capital Markets upgraded shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 target price for the company in a research note on Monday, March 10th. Wells Fargo & Company reduced their price target on shares of Samsara from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Raymond James initiated coverage on shares of Samsara in a report on Wednesday, February 26th. They issued a "market perform" rating on the stock. Piper Sandler decreased their price target on shares of Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Craig Hallum reissued a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.87.

Insider Activity

In other Samsara news, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.72, for a total value of $871,200.00. Following the sale, the director now owns 373,579 shares of the company's stock, valued at $14,464,978.88. The trade was a 5.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. Insiders sold a total of 1,243,232 shares of company stock worth $49,935,075 over the last 90 days. Corporate insiders own 60.04% of the company's stock.

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.