Samsara Inc. (NYSE:IOT) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 9.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,279,383 shares of the company's stock after acquiring an additional 196,867 shares during the period. Geode Capital Management LLC owned 0.41% of Samsara worth $109,307,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Resources Management Corp CT ADV raised its holdings in shares of Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock worth $32,000 after purchasing an additional 490 shares during the period. National Bank of Canada FI purchased a new position in Samsara in the second quarter valued at approximately $38,000. Nemes Rush Group LLC acquired a new position in Samsara during the second quarter valued at approximately $45,000. Continuum Advisory LLC grew its stake in Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after buying an additional 247 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Samsara by 69.1% in the third quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock worth $49,000 after acquiring an additional 418 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IOT has been the subject of a number of research reports. Truist Financial upped their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, November 18th. Evercore ISI increased their target price on Samsara from $40.00 to $42.00 and gave the company an "in-line" rating in a research note on Friday, September 6th. Piper Sandler raised their target price on Samsara from $40.00 to $50.00 and gave the company a "neutral" rating in a report on Friday, December 6th. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a report on Friday, November 8th. Finally, BNP Paribas started coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a "neutral" rating and a $46.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $51.29.

Insider Activity at Samsara

In other Samsara news, insider Adam Eltoukhy sold 4,000 shares of Samsara stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $50.00, for a total value of $200,000.00. Following the completion of the transaction, the insider now owns 396,784 shares of the company's stock, valued at $19,839,200. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sanjit Biswas sold 74,667 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $49.44, for a total transaction of $3,691,536.48. Following the sale, the chief executive officer now directly owns 793,219 shares in the company, valued at $39,216,747.36. This trade represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,439,925 shares of company stock valued at $72,045,428 over the last three months. 60.04% of the stock is owned by insiders.

Samsara Stock Down 2.2 %

Shares of IOT traded down $0.97 during midday trading on Thursday, hitting $42.67. The company had a trading volume of 3,936,921 shares, compared to its average volume of 3,599,459. The stock has a market cap of $23.74 billion, a price-to-earnings ratio of -90.79 and a beta of 1.53. The company's 50 day moving average price is $50.35 and its 200 day moving average price is $42.90. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $57.51.

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.