Canada Pension Plan Investment Board raised its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 57.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 533,800 shares of the company's stock after buying an additional 193,900 shares during the period. Canada Pension Plan Investment Board owned about 0.10% of Samsara worth $23,322,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in IOT. NewEdge Advisors LLC increased its position in Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after acquiring an additional 414 shares during the period. Jones Financial Companies Lllp acquired a new position in Samsara during the 4th quarter worth approximately $31,000. IFP Advisors Inc lifted its stake in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock valued at $35,000 after acquiring an additional 598 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Samsara during the fourth quarter valued at about $45,000. Finally, UMB Bank n.a. boosted its position in Samsara by 62.1% during the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock worth $72,000 after buying an additional 635 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Samsara
In other Samsara news, insider Sanjit Biswas sold 160,000 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $34.97, for a total value of $5,595,200.00. Following the completion of the transaction, the insider now owns 102,000 shares in the company, valued at approximately $3,566,940. This represents a 61.07 % 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 this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.19, for a total transaction of $10,015,310.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,350,384 shares of company stock worth $55,413,757. Company insiders own 60.04% of the company's stock.
Analyst Ratings Changes
Several research analysts have commented on IOT shares. Royal Bank of Canada cut their target price on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Berenberg Bank began coverage on shares of Samsara in a report on Monday, February 3rd. They set a "hold" rating and a $57.00 price target for the company. Piper Sandler reduced their price objective on shares of Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley dropped their target price on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Cowen reissued 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 given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.87.
Read Our Latest Stock Analysis on Samsara
Samsara Price Performance
Samsara stock traded up $0.38 during mid-day trading on Friday, hitting $39.60. The company's stock had a trading volume of 885,040 shares, compared to its average volume of 3,766,001. The business has a 50 day moving average price of $40.90 and a 200-day moving average price of $46.48. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The stock has a market cap of $22.55 billion, a price-to-earnings ratio of -84.30 and a beta of 1.71.
Samsara Profile
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Free Report)
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.
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