Russell Investments Group Ltd. Increases Stock Holdings in Samsara Inc. (NYSE:IOT)

Russell Investments Group Ltd. lifted its stake in Samsara Inc. (NYSE:IOT - Free Report) by 49.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,443 shares of the company's stock after buying an additional 17,666 shares during the period. Russell Investments Group Ltd.'s holdings in Samsara were worth $2,337,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in Samsara in the 4th quarter worth approximately $31,000. IFP Advisors Inc boosted its holdings in Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock valued at $35,000 after acquiring an additional 598 shares in the last quarter. National Bank of Canada FI purchased a new position in Samsara during the 4th quarter valued at $45,000. UMB Bank n.a. raised its holdings in Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock worth $72,000 after purchasing an additional 635 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Samsara in the 4th quarter worth about $110,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Price Performance

Shares of IOT stock traded up $1.80 during mid-day trading on Wednesday, hitting $37.27. The company had a trading volume of 2,733,341 shares, compared to its average volume of 3,783,103. The company has a market capitalization of $21.22 billion, a P/E ratio of -79.13 and a beta of 1.71. The stock's 50 day moving average price is $41.73 and its 200-day moving average price is $46.60. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90.

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following the completion of the transaction, the insider now directly owns 331,106 shares of the company's stock, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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. Insiders have sold a total of 1,190,384 shares of company stock worth $49,818,557 in the last 90 days. 60.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on IOT. BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target for the company in a research note on Monday, March 10th. Piper Sandler decreased their target price on Samsara from $50.00 to $44.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price target on Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a research report on Tuesday. Cowen reiterated a "buy" rating on shares of Samsara in a report on Friday, March 7th. Finally, Truist Financial dropped their target price on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.87.

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.