Hsbc Holdings PLC Grows Stake in Samsara Inc. (NYSE:IOT)

Hsbc Holdings PLC boosted its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,357 shares of the company's stock after purchasing an additional 8,944 shares during the quarter. Hsbc Holdings PLC's holdings in Samsara were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. GLOBALT Investments LLC GA boosted its holdings in Samsara by 0.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company's stock worth $2,444,000 after purchasing an additional 182 shares during the period. CIBC Asset Management Inc grew its holdings in Samsara by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock worth $253,000 after buying an additional 300 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock valued at $25,000 after purchasing an additional 414 shares during the period. abrdn plc raised its position in shares of Samsara by 11.6% during the 4th quarter. abrdn plc now owns 4,792 shares of the company's stock worth $210,000 after buying an additional 498 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Samsara by 7.3% in the fourth quarter. Wellington Management Group LLP now owns 8,538 shares of the company's stock worth $373,000 after purchasing an additional 579 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.

Insider Transactions at Samsara

In other news, Director Jonathan Chadwick sold 22,500 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.72, for a total transaction of $871,200.00. Following the transaction, the director now directly owns 373,579 shares of the company's stock, valued at approximately $14,464,978.88. The trade was a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dominic Phillips sold 20,801 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $50.97, for a total value of $1,060,226.97. Following the completion of the transaction, the insider now directly owns 755,001 shares of the company's stock, valued at $38,482,400.97. This represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,243,232 shares of company stock valued at $49,935,075. 60.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IOT has been the topic of a number of recent research reports. Cowen restated a "buy" rating on shares of Samsara in a report on Friday, March 7th. Berenberg Bank initiated coverage on Samsara in a report on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective on the stock. Truist Financial reduced their price objective on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research report on Friday, March 7th. Craig Hallum restated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Finally, Royal Bank of Canada cut their price target on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.87.

Samsara Price Performance

Shares of NYSE:IOT traded up $1.34 during trading on Friday, hitting $41.39. 2,603,388 shares of the company were exchanged, compared to its average volume of 3,762,787. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The stock has a 50 day moving average of $39.14 and a 200 day moving average of $46.06. The company has a market cap of $23.56 billion, a PE ratio of -88.06 and a beta of 1.71.

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.