Arrowstreet Capital Limited Partnership Grows Stake in Samsara Inc. (NYSE:IOT)

Arrowstreet Capital Limited Partnership lifted its stake in Samsara Inc. (NYSE:IOT) by 107.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,143,855 shares of the company’s stock after buying an additional 2,148,081 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Samsara were worth $181,045,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IOT. Vanguard Group Inc. raised its holdings in Samsara by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after buying an additional 863,197 shares during the last quarter. Amundi raised its holdings in Samsara by 22.2% in the 4th quarter. Amundi now owns 3,013,265 shares of the company’s stock worth $133,126,000 after acquiring an additional 547,390 shares during the last quarter. Jordan Park Trust Co LLC bought a new position in Samsara in the 4th quarter valued at approximately $112,041,000. Norges Bank purchased a new stake in Samsara during the 4th quarter valued at $106,274,000. Finally, Geode Capital Management LLC increased its holdings in shares of Samsara by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock worth $109,307,000 after purchasing an additional 196,867 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Samsara Trading Down 4.4 %

Samsara stock opened at $38.87 on Monday. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The firm has a market capitalization 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 of $47.39 and a 200 day moving average of $48.05.

Wall Street Analysts Forecast Growth

IOT has been the topic of several recent analyst reports. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research report on Monday, March 10th. 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 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. Loop Capital lifted their target price on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Royal Bank of Canada lowered their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.60.

Insider Activity

In related news, insider Adam Eltoukhy sold 3,903 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the completion of the sale, the insider now owns 320,936 shares in the company, valued at approximately $10,934,289.52. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sanjit Biswas sold 59,114 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 196,678 shares in the company, valued at approximately $8,899,679.50. This represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,607,296 shares of company stock worth $70,334,047 in the last three months. Company insiders own 60.04% of the company’s stock.

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.