Raymond James Financial Inc. Invests $2.63 Million in Samsara Inc. (NYSE:IOT)

Raymond James Financial Inc. acquired a new stake in Samsara Inc. (NYSE:IOT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 60,286 shares of the company’s stock, valued at approximately $2,634,000.

Several other large investors have also recently added to or reduced their stakes in IOT. Lord Abbett & CO. LLC grew its stake in shares of Samsara by 1,909.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock worth $90,026,000 after acquiring an additional 1,777,757 shares in the last quarter. Jennison Associates LLC grew its stake in Samsara by 13,426.9% during the 4th quarter. Jennison Associates LLC now owns 593,562 shares of the company’s stock worth $25,933,000 after purchasing an additional 589,174 shares in the last quarter. Harvard Management Co. Inc. purchased a new stake in Samsara during the 3rd quarter worth about $21,177,000. Two Sigma Advisers LP raised its position in Samsara by 102.9% in the 3rd quarter. Two Sigma Advisers LP now owns 687,100 shares of the company’s stock valued at $33,063,000 after purchasing an additional 348,500 shares in the last quarter. Finally, Bamco Inc. NY grew its position in shares of Samsara by 91.0% during the third quarter. Bamco Inc. NY now owns 667,125 shares of the company’s stock worth $32,102,000 after buying an additional 317,831 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on IOT. Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a report on Friday, March 7th. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a report on Monday, March 10th. Raymond James initiated coverage on shares of Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating for the company. Cowen restated a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Finally, Loop Capital lifted their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.60.

Samsara Trading Down 4.4 %

Shares of IOT opened at $38.87 on Friday. The company’s 50 day simple moving average is $47.39 and its 200-day simple moving average is $48.03. The firm has a market cap of $21.81 billion, a PE ratio of -82.71 and a beta of 1.63. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90.

Insider Buying and Selling

In other Samsara news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following the completion of the sale, the insider now directly owns 331,106 shares of the company’s stock, valued at approximately $17,839,991.28. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. Insiders sold a total of 1,607,296 shares of company stock worth $70,334,047 in the last 90 days. Company insiders own 60.04% of the company’s stock.

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.