Pinebridge Investments L.P. Buys Shares of 136,196 Samsara Inc. (NYSE:IOT)

Pinebridge Investments L.P. purchased a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 136,196 shares of the company's stock, valued at approximately $5,950,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. NewEdge Advisors LLC increased its holdings 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 buying an additional 414 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Samsara during the 4th quarter worth about $31,000. IFP Advisors Inc raised its holdings 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 purchasing an additional 598 shares during the period. National Bank of Canada FI acquired a new stake in Samsara in the 4th quarter valued at about $45,000. Finally, UMB Bank n.a. grew its holdings in 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 own 96.02% of the company's stock.

Analysts Set New Price Targets

IOT has been the subject of a number of recent analyst reports. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a research report on Friday, March 7th. BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective for the company in a research report on Monday, March 10th. Wells Fargo & Company dropped their price objective on shares of Samsara from $51.00 to $48.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada reduced their target price 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. Finally, Berenberg Bank assumed coverage on Samsara in a report on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective for the company. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.87.

Insiders Place Their Bets

In other news, insider Sanjit Biswas sold 160,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $34.97, for a total transaction of $5,595,200.00. Following the completion of the transaction, the insider now owns 102,000 shares of the company's stock, valued at approximately $3,566,940. The trade was a 61.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 22,500 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $38.72, for a total value of $871,200.00. Following the completion of the sale, the director now directly owns 373,579 shares in the company, valued at $14,464,978.88. This trade represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,243,232 shares of company stock worth $49,935,075 over the last three months. Insiders own 60.04% of the company's stock.

Samsara Stock Performance

Shares of Samsara stock traded down $0.16 on Wednesday, reaching $39.08. 770,366 shares of the stock were exchanged, compared to its average volume of 3,757,758. The firm has a market cap of $22.25 billion, a PE ratio of -83.15 and a beta of 1.71. The firm's 50 day moving average is $39.78 and its 200-day moving average is $46.26. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90.

About Samsara

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.