Canada Pension Plan Investment Board Acquires 193,900 Shares of Samsara Inc. (NYSE:IOT)

Canada Pension Plan Investment Board grew its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 57.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 533,800 shares of the company's stock after buying an additional 193,900 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of Samsara worth $23,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after acquiring an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC acquired a new position in shares of Samsara during the 4th quarter worth approximately $112,041,000. Norges Bank acquired a new position in shares of Samsara during the 4th quarter worth approximately $106,274,000. Arrowstreet Capital Limited Partnership raised its position in shares of 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 buying an additional 2,148,081 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Samsara by 1,909.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock valued at $90,026,000 after buying an additional 1,777,757 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Stock Performance

Shares of NYSE:IOT traded up $2.06 during midday trading on Thursday, hitting $39.28. 3,159,077 shares of the stock were exchanged, compared to its average volume of 3,780,390. The business's 50-day moving average price is $41.30 and its 200 day moving average price is $46.53. The stock has a market capitalization of $22.36 billion, a price-to-earnings ratio of -83.57 and a beta of 1.71. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price objective on Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a research note on Tuesday. BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target on the stock in a research report on Monday, March 10th. Raymond James began coverage on shares of Samsara in a research report on Wednesday, February 26th. They set a "market perform" rating for the company. Truist Financial decreased their target price on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Finally, Morgan Stanley cut their price target on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.87.

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 160,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $34.97, for a total value of $5,595,200.00. Following the sale, the insider now owns 102,000 shares of the company's stock, valued at $3,566,940. The trade was a 61.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 have sold 1,350,384 shares of company stock valued at $55,413,757 in the last ninety days. 60.04% of the stock is currently owned by insiders.

Samsara 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.