Lord Abbett & CO. LLC Boosts Position in Samsara Inc. (NYSE:IOT)

Lord Abbett & CO. LLC raised its position in shares of Samsara Inc. (NYSE:IOT) by 1,909.4% in the third quarter, HoldingsChannel reports. The firm owned 1,870,864 shares of the company’s stock after buying an additional 1,777,757 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Samsara were worth $90,026,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Baillie Gifford & Co. raised its position in Samsara by 23.4% in the third 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 period. FMR LLC lifted its stake in shares of Samsara by 15.6% during the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after buying an additional 1,604,822 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock worth $273,930,000 after buying an additional 500,400 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Samsara by 4.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after acquiring an additional 138,702 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Samsara by 9.5% in the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock valued at $109,307,000 after acquiring an additional 196,867 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Buying and Selling at Samsara

In related news, insider Dominic Phillips sold 66,642 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.88, for a total value of $3,057,534.96. Following the transaction, the insider now owns 882,664 shares of the company’s stock, valued at $40,496,624.32. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 8,500 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $50.01, for a total transaction of $425,085.00. Following the completion of the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at approximately $19,843,167.84. This trade represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,565,669 shares of company stock worth $77,896,962 over the last 90 days. Company insiders own 60.04% of the company’s stock.

Samsara Trading Down 0.8 %

Samsara stock opened at $46.08 on Friday. The firm has a market capitalization of $25.64 billion, a PE ratio of -98.04 and a beta of 1.53. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $57.51. The firm has a 50-day moving average price of $50.46 and a 200-day moving average price of $42.65.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. BNP Paribas started coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 price target on the stock. Loop Capital raised their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Craig Hallum initiated coverage on shares of Samsara in a research note on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target on the stock. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, TD Cowen increased their price target on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.29.

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.