Samsara Inc. (NYSE:IOT) Position Increased by LPL Financial LLC

LPL Financial LLC boosted its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,184 shares of the company's stock after purchasing an additional 26,684 shares during the period. LPL Financial LLC's holdings in Samsara were worth $5,557,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Jordan Park Trust Co LLC acquired a new stake in shares of Samsara during the fourth quarter valued at about $112,041,000. Lord Abbett & CO. LLC boosted its holdings in Samsara by 1,909.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock valued at $90,026,000 after purchasing an additional 1,777,757 shares during the last quarter. Jennison Associates LLC grew its stake in Samsara by 13,426.9% during the 4th quarter. Jennison Associates LLC now owns 593,562 shares of the company's stock valued at $25,933,000 after purchasing an additional 589,174 shares in the last quarter. Amundi increased its holdings in Samsara by 22.2% during the 4th quarter. Amundi now owns 3,013,265 shares of the company's stock worth $133,126,000 after purchasing an additional 547,390 shares during the last quarter. Finally, LBP AM SA acquired a new position in shares of Samsara in the 4th quarter valued at approximately $16,836,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IOT has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their price target on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Berenberg Bank started coverage on shares of Samsara in a research report on Monday, February 3rd. They issued a "hold" rating and a $57.00 target price for the company. Truist Financial cut their target price 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. Raymond James assumed coverage on Samsara in a research note on Wednesday, February 26th. They issued a "market perform" rating for the company. Finally, Cowen restated a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Nine equities 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.20.

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Samsara Stock Performance

Shares of IOT traded up $0.30 during midday trading on Friday, hitting $37.70. 2,642,386 shares of the stock traded hands, compared to its average volume of 3,768,893. The business's 50 day moving average price is $44.21 and its two-hundred day moving average price is $47.08. The firm has a market capitalization of $21.46 billion, a PE ratio of -80.21 and a beta of 1.71. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

Insider Activity at Samsara

In other news, insider Adam Eltoukhy sold 3,903 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the completion of the transaction, the insider now directly owns 320,936 shares in the company, valued at approximately $10,934,289.52. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $38.72, for a total value of $871,200.00. Following the completion of the sale, the director now owns 373,579 shares in the company, valued at approximately $14,464,978.88. This represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,563,113 shares of company stock worth $66,802,508 in the last ninety days. 60.04% of the stock is 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.