7,691 Shares in Samsara Inc. (NYSE:IOT) Acquired by Bank of Nova Scotia

Bank of Nova Scotia acquired a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,691 shares of the company's stock, valued at approximately $336,000.

A number of other hedge funds have also modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in Samsara during the fourth quarter valued at about $31,000. IFP Advisors Inc boosted its holdings in shares of Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares during the period. National Bank of Canada FI acquired a new position in Samsara in the 4th quarter valued at approximately $45,000. UMB Bank n.a. boosted its stake in shares of Samsara by 62.1% during the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock valued at $72,000 after buying an additional 635 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Samsara during the fourth quarter worth $110,000. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John Bicket sold 107,152 shares of Samsara stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $51.13, for a total transaction of $5,478,681.76. Following the completion of the sale, the insider now owns 138,000 shares in the company, valued at $7,055,940. The trade was a 43.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $34.89, for a total transaction of $5,582,400.00. Following the completion of the transaction, the insider now owns 108,000 shares in the company, valued at $3,768,120. This represents a 59.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,264,146 shares of company stock valued at $53,291,272. Company insiders own 60.04% of the company's stock.

Samsara Trading Down 4.2 %

Shares of IOT traded down $1.57 during mid-day trading on Monday, hitting $35.95. 270,356 shares of the company traded hands, compared to its average volume of 3,758,526. The business has a 50-day moving average of $42.55 and a 200 day moving average of $46.76. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of -76.62 and a beta of 1.71.

Wall Street Analysts Forecast Growth

IOT has been the subject of a number of recent research reports. Truist Financial cut their price target on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. BMO Capital Markets raised Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a research note on Monday, March 10th. Piper Sandler lowered their price target on Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Raymond James assumed coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a "market perform" rating on the stock. Finally, Cowen reaffirmed a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Samsara has a consensus rating of "Moderate Buy" and an average price target of $49.07.

Samsara Company 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.