First Trust Advisors LP Raises Holdings in Samsara Inc. (NYSE:IOT)

First Trust Advisors LP lifted its holdings in Samsara Inc. (NYSE:IOT) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,294,151 shares of the company’s stock after buying an additional 115,501 shares during the quarter. First Trust Advisors LP owned 0.23% of Samsara worth $56,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Canada Pension Plan Investment Board boosted its position in shares of Samsara by 57.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 533,800 shares of the company’s stock worth $23,322,000 after purchasing an additional 193,900 shares in the last quarter. Marshall Wace LLP purchased a new stake in Samsara during the fourth quarter worth about $12,288,000. NewEdge Advisors LLC grew its position in Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 414 shares during the period. Ontario Teachers Pension Plan Board acquired a new position in Samsara during the fourth quarter worth about $267,000. Finally, Guggenheim Capital LLC purchased a new position in Samsara in the fourth quarter valued at about $294,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 9,043 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the completion of the sale, the insider now directly owns 331,106 shares in the company, valued at approximately $17,839,991.28. The trade was a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $34.89, for a total transaction of $5,582,400.00. Following the transaction, the insider now directly owns 108,000 shares in the company, valued at approximately $3,768,120. This represents a 59.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,190,384 shares of company stock valued at $49,818,557. Insiders own 60.04% of the company’s stock.

Samsara Stock Down 0.3 %

Shares of Samsara stock opened at $35.40 on Wednesday. The firm has a market cap of $20.15 billion, a PE ratio of -75.32 and a beta of 1.71. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The business’s fifty day moving average is $41.73 and its two-hundred day moving average is $46.60.

Analysts Set New Price Targets

A number of research firms recently weighed in on IOT. Cowen restated a “buy” rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a report on Monday, March 10th. 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. Truist Financial lowered 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. Finally, Berenberg Bank began coverage on shares of Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price for the company. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.87.

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.