HighTower Advisors LLC Purchases 40,833 Shares of Samsara Inc. (NYSE:IOT)

HighTower Advisors LLC increased its stake in Samsara Inc. (NYSE:IOT) by 193.4% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,946 shares of the company’s stock after buying an additional 40,833 shares during the period. HighTower Advisors LLC’s holdings in Samsara were worth $2,981,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Centiva Capital LP grew its stake in shares of Samsara by 46.3% in the 3rd quarter. Centiva Capital LP now owns 30,018 shares of the company’s stock worth $1,444,000 after buying an additional 9,503 shares during the last quarter. Benjamin Edwards Inc. purchased a new stake in Samsara during the 3rd quarter valued at $312,000. Bamco Inc. NY boosted its stake in Samsara by 91.0% during the 3rd quarter. Bamco Inc. NY now owns 667,125 shares of the company’s stock valued at $32,102,000 after purchasing an additional 317,831 shares during the last quarter. Harvard Management Co. Inc. purchased a new stake in Samsara during the 3rd quarter valued at $21,177,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in Samsara by 34.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,480 shares of the company’s stock valued at $1,659,000 after purchasing an additional 8,780 shares during the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Analyst Upgrades and Downgrades

IOT has been the topic of several recent analyst reports. Truist Financial increased their target price on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. 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. Craig Hallum assumed coverage on Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target on the stock. TD Cowen increased their price target on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada increased their price target on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.29.

Insider Activity

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $46.69, for a total value of $4,482,240.00. Following the transaction, the chief executive officer now directly owns 867,886 shares of the company’s stock, valued at approximately $40,521,597.34. The trade was a 9.96 % 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, major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $46.44, for a total transaction of $91,858.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,565,669 shares of company stock valued at $77,896,962. Corporate insiders own 60.04% of the company’s stock.

Samsara Price Performance

Shares of NYSE:IOT opened at $46.44 on Friday. The business has a 50 day simple moving average of $50.49 and a two-hundred day simple moving average of $42.60. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $57.51. The firm has a market capitalization of $25.84 billion, a PE ratio of -98.81 and a beta of 1.53.

About Samsara

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.