Alliancebernstein L.P. grew its stake in Samsara Inc. (NYSE:IOT - Free Report) by 9.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,975,947 shares of the company's stock after acquiring an additional 164,502 shares during the quarter. Alliancebernstein L.P. owned about 0.35% of Samsara worth $86,329,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Samsara by 4.3% during 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. Arrowstreet Capital Limited Partnership raised its position 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 purchasing an additional 2,148,081 shares during the period. Amundi lifted its stake in shares of Samsara by 22.2% in the 4th quarter. Amundi now owns 3,013,265 shares of the company's stock valued at $133,126,000 after purchasing an additional 547,390 shares during the last quarter. Jordan Park Trust Co LLC purchased a new position in shares of Samsara during the 4th quarter worth $112,041,000. Finally, Norges Bank acquired a new stake in shares of Samsara during the 4th quarter worth about $106,274,000. Hedge funds and other institutional investors own 96.02% of the company's stock.
Insider Buying and Selling
In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company's stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Eltoukhy sold 9,043 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following the transaction, the insider now owns 331,106 shares in the company, valued at approximately $17,839,991.28. This trade represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,569,339 shares of company stock worth $68,470,932 in the last ninety days. 60.04% of the stock is owned by corporate insiders.
Samsara Price Performance
Shares of NYSE:IOT traded up $1.62 during trading on Tuesday, hitting $35.26. 2,702,570 shares of the company were exchanged, compared to its average volume of 4,266,401. The firm's 50 day moving average price is $45.98 and its 200-day moving average price is $47.57. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The stock has a market capitalization of $20.07 billion, a P/E ratio of -75.01 and a beta of 1.71.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on IOT shares. Royal Bank of Canada lowered their target price on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Cowen reaffirmed a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Craig Hallum reissued a "hold" rating on shares of Samsara in a research report on Friday, March 7th. Berenberg Bank began coverage on Samsara in a research report on Monday, February 3rd. They set a "hold" rating and a $57.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on Samsara from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Samsara presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.20.
Read Our Latest Stock Report on IOT
Samsara Company Profile
(
Free Report)
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.
Further Reading
Before you consider Samsara, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Samsara wasn't on the list.
While Samsara currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
