Man Group plc Purchases New Holdings in Samsara Inc. (NYSE:IOT)

Man Group plc acquired a new stake in shares of Samsara Inc. (NYSE:IOT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 394,273 shares of the company's stock, valued at approximately $17,226,000. Man Group plc owned 0.07% of Samsara as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of IOT. NewEdge Advisors LLC boosted its stake in shares of Samsara by 262.0% in 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. Jones Financial Companies Lllp bought a new position in shares of Samsara during the 4th quarter valued at about $31,000. IFP Advisors Inc boosted its holdings in shares of Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after buying an additional 598 shares during the period. National Bank of Canada FI acquired a new position in shares of Samsara in the fourth quarter worth about $45,000. Finally, UMB Bank n.a. boosted its holdings in shares of Samsara by 62.1% during the fourth quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock worth $72,000 after purchasing an additional 635 shares during the period. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of 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. Morgan Stanley cut their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Cowen reissued a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Berenberg Bank assumed coverage on shares of Samsara in a research note on Monday, February 3rd. They issued a "hold" rating and a $57.00 price target on the stock. Finally, Craig Hallum reiterated a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $49.47.

Insiders Place Their Bets

In related news, Director Jonathan Chadwick sold 22,500 shares of the 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 completion of the sale, the director now owns 373,579 shares in the company, valued at $14,464,978.88. This represents a 5.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Eltoukhy sold 3,903 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the sale, the insider now owns 320,936 shares of the company's stock, valued at $10,934,289.52. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,239,721 shares of company stock valued at $48,223,793 in the last three months. Insiders own 60.04% of the company's stock.

Samsara Stock Down 0.6%

Shares of NYSE IOT traded down $0.29 during mid-day trading on Tuesday, hitting $47.33. 1,585,991 shares of the company traded hands, compared to its average volume of 3,746,325. The business has a 50 day moving average of $39.72 and a two-hundred day moving average of $45.78. The stock has a market capitalization of $26.95 billion, a price-to-earnings ratio of -100.70 and a beta of 1.70. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90.

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.