Lord Abbett & CO. LLC Sells 519,801 Shares of Samsara Inc. (NYSE:IOT)

Lord Abbett & CO. LLC trimmed its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,351,063 shares of the company's stock after selling 519,801 shares during the period. Lord Abbett & CO. LLC owned approximately 0.24% of Samsara worth $59,028,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after buying an additional 414 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Samsara in the 4th quarter valued at approximately $31,000. IFP Advisors Inc boosted its stake in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock valued at $35,000 after purchasing an additional 598 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Samsara in the 4th quarter valued at approximately $45,000. Finally, UMB Bank n.a. boosted its stake 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 valued at $72,000 after purchasing an additional 635 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Craig Hallum restated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Piper Sandler reduced their price target on shares of Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Truist Financial reduced their price target on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada reduced their price target on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, Berenberg Bank assumed coverage on shares of Samsara in a research note on Monday, February 3rd. They issued a "hold" rating and a $57.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $48.87.

Samsara Stock Up 0.9 %

IOT traded up $0.36 during trading on Monday, reaching $39.78. 2,280,077 shares of the stock traded hands, compared to its average volume of 3,770,783. The stock has a market capitalization of $22.65 billion, a PE ratio of -84.64 and a beta of 1.71. The stock's 50-day moving average is $40.09 and its 200 day moving average is $46.31. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90.

Insider Buying and Selling at Samsara

In other Samsara news, insider Sanjit Biswas sold 13,086 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total transaction of $729,544.50. Following the sale, the insider now owns 1,571,848 shares of the company's stock, valued at approximately $87,630,526. This represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 9,043 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $53.88, for a total transaction of $487,236.84. Following the sale, the insider now directly owns 331,106 shares in the company, valued at $17,839,991.28. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,350,384 shares of company stock valued at $55,413,757. 60.04% of the stock is currently owned by 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.