Rakuten Securities Inc. Sells 43,051 Shares of Samsara Inc. (NYSE:IOT)

Rakuten Securities Inc. cut its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 91.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,852 shares of the company's stock after selling 43,051 shares during the period. Rakuten Securities Inc.'s holdings in Samsara were worth $168,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of IOT. Jordan Park Trust Co LLC acquired a new stake in shares of Samsara in the 4th quarter valued at approximately $112,041,000. Lord Abbett & CO. LLC grew its position in shares of Samsara by 1,909.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock valued at $90,026,000 after acquiring an additional 1,777,757 shares during the period. FMR LLC increased its stake in shares of Samsara by 15.6% during the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company's stock worth $572,176,000 after purchasing an additional 1,604,822 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Samsara by 55.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company's stock valued at $88,013,000 after purchasing an additional 650,982 shares during the period. Finally, Jennison Associates LLC lifted its stake in Samsara by 13,426.9% in 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 during the last quarter. 96.02% of the stock is currently owned by institutional investors.

Samsara Stock Performance

Shares of Samsara stock traded up $0.77 on Friday, reaching $37.91. 5,637,634 shares of the stock were exchanged, compared to its average volume of 3,852,456. The firm's 50 day moving average is $48.26 and its 200-day moving average is $48.14. The firm has a market cap of $21.28 billion, a PE ratio of -80.67 and a beta of 1.63. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90.

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Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on Samsara from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. increased their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target on the stock in a report on Monday, March 10th. Finally, Berenberg Bank began coverage on Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.60.

Insider Buying and Selling at Samsara

In related news, insider Dominic Phillips sold 64,629 shares of Samsara stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.95, for a total transaction of $2,969,702.55. Following the sale, the insider now directly owns 755,001 shares of the company's stock, valued at approximately $34,692,295.95. The trade was a 7.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $10,015,310.89. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,585,272 shares of company stock valued at $70,167,096. 60.04% of the stock is currently owned by corporate insiders.

Samsara Company 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.