J. Safra Sarasin Holding AG Acquires New Shares in Samsara Inc. (NYSE:IOT)

J. Safra Sarasin Holding AG purchased a new position in Samsara Inc. (NYSE:IOT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 53,740 shares of the company's stock, valued at approximately $2,348,000.

A number of other hedge funds have also recently added to or reduced their stakes in IOT. Barclays PLC boosted its stake in Samsara by 163.2% in the 3rd quarter. Barclays PLC now owns 412,066 shares of the company's stock worth $19,829,000 after buying an additional 255,532 shares during the last quarter. Virtu Financial LLC acquired a new stake in Samsara in the 3rd quarter worth about $1,689,000. Wilmington Savings Fund Society FSB acquired a new stake in Samsara in the 3rd quarter worth about $546,000. Franklin Resources Inc. acquired a new position in shares of Samsara in the 3rd quarter valued at about $10,868,000. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Samsara by 1,909.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock valued at $90,026,000 after purchasing an additional 1,777,757 shares in the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IOT has been the topic of several research analyst reports. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Berenberg Bank initiated coverage on Samsara in a research note on Monday, February 3rd. They issued a "hold" rating and a $57.00 price objective on the stock. Piper Sandler reduced their price objective on Samsara from $50.00 to $44.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada reduced their price objective on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, 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. Nine 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 an average rating of "Moderate Buy" and a consensus target price of $48.87.

Samsara Trading Up 0.5 %

IOT stock traded up $0.21 during midday trading on Friday, hitting $39.43. 2,163,173 shares of the company's stock were exchanged, compared to its average volume of 3,776,769. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The firm has a 50 day moving average price of $40.47 and a 200-day moving average price of $46.38. The stock has a market capitalization of $22.45 billion, a price-to-earnings ratio of -83.89 and a beta of 1.71.

Insiders Place Their Bets

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of Samsara stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Bicket sold 107,152 shares of Samsara stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total value of $5,478,681.76. Following the completion of the transaction, the insider now owns 138,000 shares of the company's stock, valued at approximately $7,055,940. The trade was a 43.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,350,384 shares of company stock worth $55,413,757 in the last three months. 60.04% of the stock is owned by insiders.

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.