Wells Fargo & Company MN Purchases 65,028 Shares of Samsara Inc. (NYSE:IOT)

Wells Fargo & Company MN grew its position in Samsara Inc. (NYSE:IOT - Free Report) by 101.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,176 shares of the company's stock after acquiring an additional 65,028 shares during the quarter. Wells Fargo & Company MN's holdings in Samsara were worth $5,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IOT. Jones Financial Companies Lllp purchased a new stake in Samsara in the fourth quarter valued at $31,000. IFP Advisors Inc boosted its stake in Samsara by 290.3% during 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 purchased a new position in Samsara during the fourth quarter worth about $45,000. UMB Bank n.a. lifted its position 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 in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Samsara during the fourth quarter worth about $110,000. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Trading Up 3.8 %

IOT traded up $1.41 during trading hours on Thursday, hitting $38.63. The company's stock had a trading volume of 550,479 shares, compared to its average volume of 3,770,556. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The firm has a market capitalization of $22.00 billion, a PE ratio of -81.67 and a beta of 1.71. The company has a 50-day simple moving average of $41.30 and a 200 day simple moving average of $46.53.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BMO Capital Markets raised shares of Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a report on Monday, March 10th. Craig Hallum reaffirmed a "hold" rating on shares of Samsara in a report on Friday, March 7th. Berenberg Bank assumed coverage on shares of Samsara in a report on Monday, February 3rd. They issued a "hold" rating and a $57.00 target price for the company. Royal Bank of Canada dropped their price objective on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Finally, Morgan Stanley dropped their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Samsara presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.87.

Insider Transactions at Samsara

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam Eltoukhy sold 3,903 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 320,936 shares of the company's stock, valued at approximately $10,934,289.52. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,350,384 shares of company stock valued at $55,413,757 in the last three months. 60.04% of the stock is currently owned by corporate insiders.

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.