Samsara Inc. (NYSE:IOT) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC raised its holdings in Samsara Inc. (NYSE:IOT) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 764,300 shares of the company’s stock after acquiring an additional 178,102 shares during the quarter. Renaissance Technologies LLC owned 0.14% of Samsara worth $33,392,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in IOT. GLOBALT Investments LLC GA grew its holdings in shares of Samsara by 0.3% in the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock worth $2,444,000 after acquiring an additional 182 shares during the period. Continuum Advisory LLC boosted its position 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 in the last quarter. CIBC Asset Management Inc grew its holdings in Samsara by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock valued at $253,000 after purchasing an additional 300 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Samsara by 5.1% in the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock valued at $383,000 after buying an additional 388 shares in the last quarter. Finally, abrdn plc raised its stake in shares of Samsara by 11.6% during the 4th quarter. abrdn plc now owns 4,792 shares of the company’s stock worth $210,000 after buying an additional 498 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on IOT shares. Craig Hallum reissued a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Berenberg Bank assumed coverage on shares of Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Royal Bank of Canada reduced their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Truist Financial lowered their target price on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Finally, Wells Fargo & Company cut their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Samsara presently has an average rating of “Moderate Buy” and a consensus target price of $49.20.

Samsara Stock Performance

Samsara stock opened at $37.70 on Friday. The company has a market cap of $21.46 billion, a price-to-earnings ratio of -80.21 and a beta of 1.71. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The firm has a 50 day moving average price of $44.21 and a 200 day moving average price of $47.08.

Insider Activity

In related news, insider Adam Eltoukhy sold 3,903 shares of Samsara stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dominic Phillips sold 20,801 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $50.97, for a total value of $1,060,226.97. Following the sale, the insider now directly owns 755,001 shares of the company’s stock, valued at approximately $38,482,400.97. This trade represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,563,113 shares of company stock valued at $66,802,508 in the last ninety days. 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.