Samsara Inc. (NYSE:IOT) Stake Raised by Sara Bay Financial

Sara Bay Financial raised its holdings in Samsara Inc. (NYSE:IOT) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,771 shares of the company’s stock after purchasing an additional 599 shares during the quarter. Samsara accounts for 3.3% of Sara Bay Financial’s holdings, making the stock its 10th largest holding. Sara Bay Financial’s holdings in Samsara were worth $8,860,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in shares of Samsara by 4.7% in the third quarter. State Street Corp now owns 2,125,584 shares of the company’s stock valued at $102,283,000 after buying an additional 95,006 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Samsara by 193.4% in the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after buying an additional 40,833 shares in the last quarter. Swiss National Bank grew its stake in Samsara by 3.1% during the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after purchasing an additional 18,400 shares in the last quarter. International Assets Investment Management LLC grew its stake in Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after purchasing an additional 10,452 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in Samsara during the 2nd quarter worth $537,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Trading Up 2.0 %

Shares of Samsara stock traded up $0.93 on Friday, hitting $46.75. The stock had a trading volume of 2,292,458 shares, compared to its average volume of 2,715,515. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $57.51. The stock has a market cap of $26.24 billion, a price-to-earnings ratio of -99.48 and a beta of 1.59. The company’s 50 day moving average price is $48.40 and its 200 day moving average price is $44.88.

Analysts Set New Price Targets

IOT has been the subject of several analyst reports. BMO Capital Markets boosted their target price on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their target price on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. TD Cowen boosted their target price on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company boosted their target price on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Morgan Stanley upped their price objective on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.29.

Insider Activity

In other news, insider Sanjit Biswas sold 170,416 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.30, for a total value of $7,719,844.80. Following the completion of the sale, the insider now directly owns 1,175,569 shares of the company’s stock, valued at approximately $53,253,275.70. The trade was a 12.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Eltoukhy sold 9,307 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $49.55, for a total value of $461,161.85. Following the completion of the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at $19,660,647.20. The trade was a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,606,542 shares of company stock valued at $77,988,715. 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.