Samsara Inc. (NYSE:IOT) Stake Boosted by RFG Advisory LLC

RFG Advisory LLC boosted its stake in shares of Samsara Inc. (NYSE:IOT) by 28.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,824 shares of the company’s stock after purchasing an additional 1,946 shares during the quarter. RFG Advisory LLC’s holdings in Samsara were worth $333,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of IOT. Janney Capital Management LLC raised its holdings in shares of Samsara by 3.1% during the fourth quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock valued at $345,000 after acquiring an additional 311 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Samsara by 31.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock valued at $53,000 after purchasing an additional 381 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of Samsara by 1.0% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 66,389 shares of the company’s stock valued at $2,216,000 after purchasing an additional 644 shares in the last quarter. Quarry LP acquired a new stake in shares of Samsara in the fourth quarter worth $37,000. Finally, Fred Alger Management LLC purchased a new position in shares of Samsara during the third quarter valued at $28,000. 89.39% of the stock is owned by hedge funds and other institutional investors.

Samsara Stock Performance

Shares of IOT stock opened at $29.84 on Wednesday. The stock’s 50 day simple moving average is $34.91 and its 200 day simple moving average is $34.30. Samsara Inc. has a twelve month low of $21.48 and a twelve month high of $42.28. The company has a market capitalization of $16.44 billion, a price-to-earnings ratio of -59.68 and a beta of 1.52.

Insider Buying and Selling at Samsara

In other news, insider Dominic Phillips sold 21,690 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $36.49, for a total value of $791,468.10. Following the completion of the sale, the insider now directly owns 1,137,252 shares in the company, valued at $41,498,325.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Dominic Phillips sold 21,690 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $36.49, for a total value of $791,468.10. Following the sale, the insider now directly owns 1,137,252 shares of the company’s stock, valued at $41,498,325.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $28.88, for a total value of $8,013,737.92. The disclosure for this sale can be found here. Insiders have sold a total of 1,611,743 shares of company stock worth $55,349,046 over the last 90 days. Insiders own 60.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Bank of America began coverage on Samsara in a research note on Thursday, June 20th. They set a “buy” rating and a $37.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and issued a $36.00 target price (down previously from $41.00) on shares of Samsara in a research report on Friday, June 7th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of Samsara in a report on Friday, June 7th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Saturday, May 25th. Finally, Evercore ISI lowered their target price on Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a research note on Friday, June 7th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.55.

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.