PNC Financial Services Group Inc. Increases Stock Holdings in Samsara Inc. (NYSE:IOT)

PNC Financial Services Group Inc. increased its holdings in shares of Samsara Inc. (NYSE:IOT) by 26.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,784 shares of the company’s stock after buying an additional 3,057 shares during the period. PNC Financial Services Group Inc.’s holdings in Samsara were worth $646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lord Abbett & CO. LLC lifted its holdings in 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. FMR LLC lifted its holdings in Samsara by 15.6% in the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after purchasing an additional 1,604,822 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Samsara by 55.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock valued at $88,013,000 after purchasing an additional 650,982 shares in the last quarter. Jennison Associates LLC lifted its holdings in Samsara by 13,426.9% in the 4th quarter. Jennison Associates LLC now owns 593,562 shares of the company’s stock valued at $25,933,000 after purchasing an additional 589,174 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in Samsara in the 3rd quarter valued at $21,177,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Price Performance

NYSE IOT opened at $38.10 on Wednesday. The company has a market cap of $21.38 billion, a P/E ratio of -81.06 and a beta of 1.63. The stock has a 50-day moving average of $48.05 and a two-hundred day moving average of $48.15. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

Analysts Set New Price Targets

A number of brokerages have issued reports on IOT. Cowen reaffirmed a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Royal Bank of Canada cut their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their target price on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley raised their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Loop Capital raised their target price on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Samsara has an average rating of “Moderate Buy” and a consensus target price of $49.60.

Insider Buying and Selling at Samsara

In other news, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $45.37, for a total value of $1,020,825.00. Following the completion of the transaction, the director now owns 396,079 shares in the company, valued at approximately $17,970,104.23. This trade represents a 5.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sanjit Biswas sold 13,086 shares of Samsara stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the completion of the transaction, the insider now owns 1,571,848 shares of the company’s stock, valued at $87,630,526. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,520,643 shares of company stock valued at $67,197,394 in the last three months. 60.04% of the stock is owned by corporate insiders.

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.