Arrowstreet Capital Limited Partnership Boosts Position in Samsara Inc. (NYSE:IOT)

Arrowstreet Capital Limited Partnership lifted its position in Samsara Inc. (NYSE:IOT) by 107.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 owned approximately 0.74% of Samsara worth $181,045,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Intech Investment Management LLC bought a new position in shares of Samsara in the third quarter worth $644,000. Daiwa Securities Group Inc. increased its stake in Samsara by 12.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,800 shares of the company’s stock worth $760,000 after acquiring an additional 1,800 shares during the last quarter. Private Trust Co. NA raised its holdings in shares of Samsara by 19.2% in the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after acquiring an additional 250 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Samsara by 14.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,723 shares of the company’s stock valued at $2,296,000 after acquiring an additional 5,897 shares during the last quarter. Finally, Bridgewater Associates LP purchased a new position in shares of Samsara during the third quarter worth about $2,308,000. 96.02% of the stock is currently owned by institutional investors.

Samsara Stock Performance

Shares of IOT stock opened at $38.87 on Monday. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The firm has a market cap of $21.81 billion, a P/E ratio of -82.71 and a beta of 1.63. The business’s 50 day moving average price is $47.39 and its 200-day moving average price is $48.05.

Analyst Ratings Changes

Several equities research analysts have issued reports on IOT shares. Cowen reiterated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a report on Friday, March 7th. Loop Capital increased their target price on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company dropped their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Royal Bank of Canada reduced their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Insiders Place Their Bets

In related news, Director Jonathan Chadwick sold 22,500 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.72, for a total transaction of $871,200.00. Following the transaction, the director now owns 373,579 shares in the company, valued at $14,464,978.88. The trade was a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 3,903 shares of the firm’s 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 of the company’s stock, valued at $10,934,289.52. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,607,296 shares of company stock worth $70,334,047. 60.04% of the stock is currently owned by corporate insiders.

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.