Geode Capital Management LLC Acquires 91,688 Shares of Samsara Inc. (NYSE:IOT)

Geode Capital Management LLC raised its position in Samsara Inc. (NYSE:IOT - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,371,071 shares of the company's stock after buying an additional 91,688 shares during the period. Geode Capital Management LLC owned 0.42% of Samsara worth $103,315,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Jordan Park Trust Co LLC bought a new stake in Samsara during the 4th quarter worth approximately $112,041,000. Norges Bank bought a new position in shares of Samsara in the fourth quarter valued at about $106,274,000. Arrowstreet Capital Limited Partnership grew its holdings in Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after acquiring an additional 2,148,081 shares during the last quarter. Lord Abbett & CO. LLC raised 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 worth $90,026,000 after acquiring an additional 1,777,757 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Samsara by 577.7% during the fourth quarter. Franklin Resources Inc. now owns 1,458,813 shares of the company's stock worth $63,736,000 after purchasing an additional 1,243,561 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $34.89, for a total transaction of $5,582,400.00. Following the completion of the sale, the insider now owns 108,000 shares of the company's stock, valued at $3,768,120. This represents a 59.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dominic Phillips sold 21,157 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $38.37, for a total transaction of $811,794.09. Following the sale, the insider now owns 638,642 shares in the company, valued at approximately $24,504,693.54. The trade was a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,506,639 shares of company stock valued at $64,355,489. 60.04% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

Several research analysts recently weighed in on IOT shares. Truist Financial dropped their price objective on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research report on Friday, March 7th. Royal Bank of Canada cut their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Wells Fargo & Company lowered their price objective on Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. Finally, Cowen reaffirmed a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.20.

Samsara Trading Up 4.1 %

Shares of NYSE IOT traded up $1.52 during mid-day trading on Tuesday, reaching $38.77. 802,762 shares of the company's stock were exchanged, compared to its average volume of 3,756,680. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90. The firm has a market capitalization of $22.07 billion, a price-to-earnings ratio of -82.41 and a beta of 1.71. The business has a fifty day simple moving average of $43.88 and a 200 day simple moving average of $47.00.

Samsara Company 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.