Samsara Inc. (NYSE:IOT) Shares Acquired by State Street Corp

State Street Corp boosted its stake in Samsara Inc. (NYSE:IOT) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,125,584 shares of the company’s stock after buying an additional 95,006 shares during the period. State Street Corp owned 0.38% of Samsara worth $102,283,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its holdings in shares of Samsara by 193.4% in the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock worth $2,981,000 after acquiring an additional 40,833 shares during the period. Swiss National Bank grew its position in Samsara by 3.1% in the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after purchasing an additional 18,400 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock valued at $521,000 after purchasing an additional 10,452 shares during the period. Bank of Montreal Can bought a new position in Samsara in the 2nd quarter worth approximately $537,000. Finally, Magnetar Financial LLC acquired a new stake in Samsara in the 2nd quarter valued at approximately $1,240,000. 96.02% of the stock is currently owned by institutional investors.

Insider Activity

In other Samsara news, major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $46.44, for a total transaction of $91,858.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $46.69, for a total value of $4,482,240.00. Following the transaction, the chief executive officer now owns 867,886 shares in the company, valued at $40,521,597.34. This represents a 9.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,473,274 shares of company stock valued at $73,649,824 over the last three months. Insiders own 60.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company increased their target price on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Evercore ISI boosted their price target on shares of Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Piper Sandler increased their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, BNP Paribas began coverage on shares of Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Samsara presently has an average rating of “Hold” and a consensus target price of $51.29.

Samsara Stock Down 0.8 %

IOT opened at $46.08 on Monday. The firm has a market cap of $25.64 billion, a PE ratio of -98.04 and a beta of 1.53. The business has a fifty day simple moving average of $50.46 and a 200-day simple moving average of $42.72. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

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.