Envestnet Asset Management Inc. Acquires 15,039 Shares of Samsara Inc. (NYSE:IOT)

Envestnet Asset Management Inc. raised its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 44.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,549 shares of the company's stock after purchasing an additional 15,039 shares during the period. Envestnet Asset Management Inc.'s holdings in Samsara were worth $2,121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in Samsara during the 4th quarter worth approximately $31,000. IFP Advisors Inc raised its position in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after acquiring an additional 598 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Samsara in the 4th quarter worth about $45,000. UMB Bank n.a. raised its position in shares of Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock worth $72,000 after acquiring an additional 635 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in Samsara in the 4th quarter valued at about $110,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Samsara Stock Performance

Shares of IOT opened at $39.43 on Monday. The business's 50-day moving average is $40.47 and its two-hundred day moving average is $46.38. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The company has a market capitalization of $22.45 billion, a P/E ratio of -83.89 and a beta of 1.71.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Piper Sandler cut their price target on Samsara from $50.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Cowen reiterated a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Raymond James assumed coverage on shares of Samsara in a report on Wednesday, February 26th. They set a "market perform" rating on the stock. Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. Finally, Wells Fargo & Company cut their target price on Samsara from $51.00 to $48.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $48.87.

Insider Transactions at Samsara

In other Samsara news, insider Adam Eltoukhy sold 9,043 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total value of $487,236.84. Following the completion of the sale, the insider now directly owns 331,106 shares in the company, valued at $17,839,991.28. This represents a 2.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjit Biswas sold 160,000 shares of the company'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 completion of the sale, the insider now owns 102,000 shares of the company's stock, valued at approximately $3,566,940. The trade was a 61.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 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 corporate 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.

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