Quantessence Capital LLC Purchases New Holdings in Samsara Inc. (NYSE:IOT)

Quantessence Capital LLC acquired a new position in Samsara Inc. (NYSE:IOT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,130 shares of the company's stock, valued at approximately $574,000.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Samsara by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock worth $916,555,000 after buying an additional 863,197 shares during the period. FMR LLC boosted its stake in shares of Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock valued at $644,129,000 after purchasing an additional 2,852,575 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Samsara by 107.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after purchasing an additional 2,148,081 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Samsara by 13.7% in the 4th quarter. Invesco Ltd. now owns 3,476,945 shares of the company's stock worth $151,908,000 after purchasing an additional 419,163 shares during the last quarter. Finally, Amundi increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Stock Down 0.3 %

NYSE:IOT opened at $35.40 on Wednesday. The company has a market cap of $20.15 billion, a P/E ratio of -75.32 and a beta of 1.71. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90. The business has a 50 day moving average price of $41.73 and a two-hundred day moving average price of $46.60.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 3,903 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the transaction, the insider now owns 320,936 shares in the company, valued at $10,934,289.52. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,190,384 shares of company stock worth $49,818,557. 60.04% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IOT. Morgan Stanley decreased their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler dropped their price target on Samsara from $50.00 to $44.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Cowen reissued a "buy" rating on shares of Samsara in a research note on Friday, March 7th. Raymond James started coverage on Samsara in a research note on Wednesday, February 26th. They issued a "market perform" rating for the company. Finally, Wells Fargo & Company reduced their price target on shares of Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.87.

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.

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