Renaissance Technologies LLC Has $33.39 Million Stake in Samsara Inc. (NYSE:IOT)

Renaissance Technologies LLC raised its stake in Samsara Inc. (NYSE:IOT - Free Report) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 764,300 shares of the company's stock after buying an additional 178,102 shares during the quarter. Renaissance Technologies LLC owned 0.14% of Samsara worth $33,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its stake in Samsara by 16.7% during the 3rd quarter. Captrust Financial Advisors now owns 10,240 shares of the company's stock worth $493,000 after buying an additional 1,463 shares during the period. HighTower Advisors LLC raised its holdings in Samsara by 193.4% during the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company's stock worth $2,981,000 after buying an additional 40,833 shares during the period. State Street Corp boosted its holdings in shares of Samsara by 4.7% in the third quarter. State Street Corp now owns 2,125,584 shares of the company's stock valued at $102,283,000 after buying an additional 95,006 shares during the period. Wellington Management Group LLP lifted its position in Samsara by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company's stock valued at $383,000 after acquiring an additional 388 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Samsara by 1.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 57,350 shares of the company's stock worth $2,760,000 after purchasing an additional 960 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

Insider Activity

In other Samsara news, insider Adam Eltoukhy sold 3,903 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the completion of the sale, the insider now directly owns 320,936 shares in the company, valued at $10,934,289.52. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjit Biswas sold 72,077 shares of the business's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $46.40, for a total value of $3,344,372.80. Following the transaction, the insider now directly owns 31,654 shares of the company's stock, valued at $1,468,745.60. This trade represents a 69.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,336,223 shares of company stock worth $56,635,645. 60.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IOT. Morgan Stanley decreased their price objective on Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday. Raymond James started coverage on shares of Samsara in a research report on Wednesday, February 26th. They issued a "market perform" rating for the company. Cowen reaffirmed a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Piper Sandler lowered their price target on Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Truist Financial decreased their target price on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.07.

Samsara Trading Down 3.3 %

NYSE IOT traded down $1.28 during midday trading on Thursday, hitting $37.57. The company had a trading volume of 953,674 shares, compared to its average volume of 3,751,820. The company has a market capitalization of $21.39 billion, a PE ratio of -79.71 and a beta of 1.71. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90. The firm has a 50-day moving average price of $43.26 and a 200-day moving average price of $46.88.

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.