Vanguard Group Inc. Raises Position in Samsara Inc. (NYSE:IOT)

Vanguard Group Inc. increased its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,978,589 shares of the company's stock after buying an additional 863,197 shares during the period. Vanguard Group Inc. owned 3.74% of Samsara worth $916,555,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IOT. Jones Financial Companies Lllp acquired a new position in Samsara in the 4th quarter worth about $31,000. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara in the third quarter valued at approximately $34,000. IFP Advisors Inc raised its stake in shares of Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after buying an additional 598 shares during the period. Continuum Advisory LLC lifted its position in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock valued at $45,000 after buying an additional 247 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in shares of Samsara by 19.2% during the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock valued at $75,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

IOT has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Loop Capital increased their target price on Samsara from $46.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, December 5th. Raymond James initiated coverage on Samsara in a research note on Wednesday, February 26th. They issued a "market perform" rating on the stock. Piper Sandler upgraded Samsara from a "neutral" rating to an "overweight" rating and set a $50.00 price target for the company in a research report on Monday, March 10th. Finally, BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a report on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.60.

Insider Buying and Selling

In related news, insider Sanjit Biswas sold 85,063 shares of the business's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $43.84, for a total value of $3,729,161.92. Following the sale, the insider now owns 150,676 shares in the company, valued at approximately $6,605,635.84. The trade was a 36.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.72, for a total value of $871,200.00. Following the transaction, the director now directly owns 373,579 shares in the company, valued at approximately $14,464,978.88. The trade was a 5.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,607,296 shares of company stock worth $70,334,047. Company insiders own 60.04% of the company's stock.

Samsara Stock Down 2.1 %

Shares of Samsara stock traded down $0.81 during mid-day trading on Wednesday, hitting $37.99. The stock had a trading volume of 1,614,691 shares, compared to its average volume of 3,578,095. The firm has a 50-day moving average of $47.06 and a two-hundred day moving average of $47.93. The firm has a market cap of $21.32 billion, a P/E ratio of -80.55 and a beta of 1.63. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90.

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.