Adage Capital Partners GP L.L.C. Sells 175,000 Shares of Samsara Inc. (NYSE:IOT)

Adage Capital Partners GP L.L.C. lessened its position in Samsara Inc. (NYSE:IOT - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 900,000 shares of the company's stock after selling 175,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.16% of Samsara worth $39,321,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of IOT. FMR LLC lifted its holdings in Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after buying an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC bought a new position in shares of Samsara in the 4th quarter worth about $112,041,000. Norges Bank acquired a new position in shares of Samsara in the 4th quarter valued at about $106,274,000. Arrowstreet Capital Limited Partnership grew its stake in Samsara by 107.6% during the fourth 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 period. Finally, Lord Abbett & CO. LLC increased 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 worth $90,026,000 after purchasing an additional 1,777,757 shares in the last quarter. Institutional investors own 96.02% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on IOT shares. Cowen restated a "buy" rating on shares of Samsara in a report on Friday, March 7th. Royal Bank of Canada lowered their price objective on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a report on Friday, March 7th. 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 research report on Friday, March 7th. Finally, Raymond James started coverage on shares of Samsara in a report on Wednesday, February 26th. They issued a "market perform" rating on the stock. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Samsara has an average rating of "Moderate Buy" and a consensus 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 company were exchanged, compared to its average volume of 3,770,783. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The company has a market cap of $22.65 billion, a price-to-earnings ratio of -84.64 and a beta of 1.71. The company's 50-day moving average is $40.47 and its two-hundred day moving average is $46.38.

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $34.97, for a total value of $5,595,200.00. Following the sale, the insider now owns 102,000 shares in the company, valued at approximately $3,566,940. This trade represents a 61.07 % 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, insider John Bicket sold 107,152 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total value of $5,478,681.76. Following the transaction, the insider now owns 138,000 shares of the company's stock, valued at approximately $7,055,940. The trade was a 43.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,350,384 shares of company stock worth $55,413,757 in the last three months. 60.04% of the stock is currently owned by corporate 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.