Zweig DiMenna Associates LLC Grows Position in Samsara Inc. (NYSE:IOT)

Zweig DiMenna Associates LLC lifted its holdings in shares of Samsara Inc. (NYSE:IOT) by 259.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 369,850 shares of the company’s stock after purchasing an additional 266,850 shares during the quarter. Samsara comprises approximately 1.2% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 24th biggest position. Zweig DiMenna Associates LLC owned 0.07% of Samsara worth $16,159,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of IOT. Continuum Advisory LLC lifted its stake in Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after purchasing an additional 247 shares during the last quarter. Private Trust Co. NA lifted its stake in Samsara by 19.2% during the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after purchasing an additional 250 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after buying an additional 304 shares during the period. Wellington Management Group LLP increased its position in Samsara by 5.1% during the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock worth $383,000 after buying an additional 388 shares during the period. Finally, UMB Bank n.a. increased its position in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on IOT shares. TD Cowen boosted their target price on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Loop Capital boosted 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. BMO Capital Markets boosted their target price on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Morgan Stanley boosted their target price on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company upped their price objective on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Samsara presently has a consensus rating of “Hold” and a consensus price target of $51.29.

Insider Activity

In related news, insider Dominic Phillips sold 20,137 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $46.39, for a total value of $934,155.43. Following the completion of the transaction, the insider now directly owns 882,664 shares in the company, valued at approximately $40,946,782.96. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Eltoukhy sold 9,307 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $49.55, for a total value of $461,161.85. Following the completion of the transaction, the insider now owns 396,784 shares of the company’s stock, valued at $19,660,647.20. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,656,381 shares of company stock worth $80,285,162 over the last three months. 60.04% of the stock is currently owned by corporate insiders.

Samsara Stock Up 0.5 %

Shares of NYSE:IOT opened at $48.23 on Friday. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $57.51. The stock’s fifty day simple moving average is $48.02 and its 200-day simple moving average is $45.20. The company has a market capitalization of $27.07 billion, a P/E ratio of -102.68 and a beta of 1.59.

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.