HighTower Advisors LLC Has $2.98 Million Stock Position in Samsara Inc. (NYSE:IOT)

HighTower Advisors LLC boosted its position in Samsara Inc. (NYSE:IOT - Free Report) by 193.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,946 shares of the company's stock after buying an additional 40,833 shares during the quarter. HighTower Advisors LLC's holdings in Samsara were worth $2,981,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Resources Management Corp CT ADV boosted its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock valued at $32,000 after buying an additional 490 shares during the last quarter. National Bank of Canada FI acquired a new position in Samsara during the 2nd quarter worth $38,000. Nemes Rush Group LLC acquired a new position in Samsara during the 2nd quarter worth $45,000. UMB Bank n.a. raised its stake in shares of Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock valued at $49,000 after purchasing an additional 418 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company's stock worth $67,000 after purchasing an additional 1,000 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Samsara Trading Down 0.8 %

IOT traded down $0.35 during trading hours on Friday, hitting $46.08. The company's stock had a trading volume of 3,923,166 shares, compared to its average volume of 3,583,719. The company has a 50-day simple moving average of $50.46 and a 200 day simple moving average of $42.65. The firm has a market capitalization of $25.64 billion, a PE ratio of -98.04 and a beta of 1.53. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

Insider Activity

In related news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total transaction of $5,160,489.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jonathan Chadwick sold 12,206 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $46.54, for a total transaction of $568,067.24. Following the completion of the sale, the director now owns 418,579 shares in the company, valued at approximately $19,480,666.66. This trade represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,565,669 shares of company stock valued at $77,896,962. Company insiders own 60.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on IOT. TD Cowen upped their price objective on Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Craig Hallum assumed coverage on Samsara in a research report on Tuesday, October 22nd. They set a "hold" rating and a $48.00 price target on the stock. Royal Bank of Canada lifted their price objective on shares of Samsara from $49.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Truist Financial increased their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a "hold" rating in a report on Monday, November 18th. Finally, Wells Fargo & Company lifted their price target on shares of Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Samsara has an average rating of "Hold" and a consensus target price of $51.29.

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.