Cinctive Capital Management LP purchased a new stake in Samsara Inc. (NYSE:IOT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 220,126 shares of the company's stock, valued at approximately $9,617,000.
Several other hedge funds have also recently bought and sold shares of IOT. GLOBALT Investments LLC GA boosted its position in Samsara by 0.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock valued at $2,444,000 after buying an additional 182 shares in the last quarter. Continuum Advisory LLC grew its position in Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after acquiring an additional 247 shares during the last quarter. CIBC Asset Management Inc raised its position in Samsara by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock valued at $253,000 after purchasing an additional 300 shares during the last quarter. Wellington Management Group LLP boosted its stake in Samsara by 5.1% in the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company's stock worth $383,000 after purchasing an additional 388 shares in the last quarter. Finally, abrdn plc boosted its stake in Samsara by 11.6% in the fourth quarter. abrdn plc now owns 4,792 shares of the company's stock worth $210,000 after purchasing an additional 498 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have weighed in on IOT. Cowen restated a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Royal Bank of Canada reduced their price objective on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Wells Fargo & Company lowered their target price on Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Truist Financial cut their price target on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Finally, BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective for the company in a research report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.60.
Check Out Our Latest Analysis on IOT
Samsara Stock Up 0.1 %
Shares of IOT traded up $0.03 during trading hours on Monday, hitting $33.49. The company had a trading volume of 4,229,625 shares, compared to its average volume of 4,214,304. The business has a fifty day moving average of $46.30 and a 200-day moving average of $47.67. The firm has a market cap of $19.06 billion, a price-to-earnings ratio of -71.24 and a beta of 1.71. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90.
Insiders Place Their Bets
In related news, insider Adam Eltoukhy sold 3,903 shares of Samsara stock in a transaction that occurred 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 of the company's stock, valued at approximately $10,934,289.52. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sanjit Biswas sold 85,063 shares of the business's stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $43.84, for a total value of $3,729,161.92. Following the completion of the sale, the insider now owns 150,676 shares of the company's stock, valued at $6,605,635.84. This trade represents a 36.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,569,339 shares of company stock worth $68,470,932 over the last three months. Insiders own 60.04% of the company's stock.
About Samsara
(
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.
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