IFP Advisors Inc Raises Stake in Samsara Inc. (NYSE:IOT)

IFP Advisors Inc increased its stake in shares of Samsara Inc. (NYSE:IOT) by 290.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 804 shares of the company’s stock after purchasing an additional 598 shares during the period. IFP Advisors Inc’s holdings in Samsara were worth $35,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Samsara by 77.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $91,000 after acquiring an additional 821 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Samsara by 2.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 78,287 shares of the company’s stock worth $3,767,000 after acquiring an additional 2,114 shares during the last quarter. Baillie Gifford & Co. increased its stake in Samsara by 23.4% in the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after acquiring an additional 6,411,178 shares during the last quarter. Rakuten Securities Inc. increased its stake in Samsara by 100.4% in the 3rd quarter. Rakuten Securities Inc. now owns 46,903 shares of the company’s stock worth $2,257,000 after acquiring an additional 23,495 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Samsara by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,283 shares of the company’s stock worth $18,107,000 after acquiring an additional 16,528 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Buying and Selling

In other Samsara news, insider Dominic Phillips sold 20,136 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $50.45, for a total value of $1,015,861.20. Following the completion of the sale, the insider now owns 882,664 shares in the company, valued at approximately $44,530,398.80. This trade represents a 2.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sanjit Biswas sold 145,392 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $44.27, for a total value of $6,436,503.84. Following the completion of the sale, the insider now owns 120,000 shares of the company’s stock, valued at approximately $5,312,400. This trade represents a 54.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,389,912 shares of company stock worth $65,081,064 in the last ninety days. 60.04% of the stock is owned by insiders.

Samsara Price Performance

IOT opened at $35.32 on Friday. The stock’s 50 day simple moving average is $49.21 and its 200 day simple moving average is $48.29. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of -75.14 and a beta of 1.63.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Piper Sandler upped their target price on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company decreased their target price on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley upped their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Raymond James assumed coverage on Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Samsara has an average rating of “Hold” and an average price target of $49.60.

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.