HighTower Advisors LLC Trims Stake in Samsara Inc. (NYSE:IOT)

HighTower Advisors LLC lessened its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 55.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,730 shares of the company's stock after selling 34,216 shares during the quarter. HighTower Advisors LLC's holdings in Samsara were worth $1,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Jordan Park Trust Co LLC acquired a new stake in Samsara during the 4th quarter worth about $112,041,000. Lord Abbett & CO. LLC boosted its stake in shares of 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 buying an additional 1,777,757 shares during the last quarter. FMR LLC grew its holdings in Samsara by 15.6% during the third quarter. FMR LLC now owns 11,890,600 shares of the company's stock worth $572,176,000 after acquiring an additional 1,604,822 shares during the period. Charles Schwab Investment Management Inc. raised its position in Samsara by 55.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company's stock valued at $88,013,000 after acquiring an additional 650,982 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Samsara by 13,426.9% in the fourth quarter. Jennison Associates LLC now owns 593,562 shares of the company's stock valued at $25,933,000 after acquiring an additional 589,174 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Trading Down 4.4 %

IOT traded down $1.81 on Friday, hitting $38.87. 4,263,743 shares of the company's stock were exchanged, compared to its average volume of 3,583,411. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of -82.71 and a beta of 1.63. The firm has a 50-day moving average price of $47.39 and a 200-day moving average price of $48.03.

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Insider Activity at Samsara

In other Samsara news, insider Adam Eltoukhy sold 3,903 shares of the business's stock in a transaction 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 transaction, the insider now owns 320,936 shares of the company's stock, valued at approximately $10,934,289.52. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sanjit Biswas sold 59,114 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.25, for a total value of $2,674,908.50. Following the completion of the sale, the insider now directly owns 196,678 shares of the company's stock, valued at $8,899,679.50. This trade represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,607,296 shares of company stock valued at $70,334,047. Corporate insiders own 60.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on IOT shares. Truist Financial dropped their price objective 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. Wells Fargo & Company dropped their price target on shares of Samsara from $55.00 to $51.00 and set an "overweight" rating on the stock in a research 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 target price on the stock in a research note on Monday, March 10th. Raymond James started coverage on shares of Samsara in a research note on Wednesday, February 26th. They set a "market perform" rating on the stock. Finally, Royal Bank of Canada cut their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $49.60.

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.