Xponance Inc. Buys 3,742 Shares of Samsara Inc. (NYSE:IOT)

Xponance Inc. increased its position in Samsara Inc. (NYSE:IOT) by 38.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,356 shares of the company’s stock after acquiring an additional 3,742 shares during the quarter. Xponance Inc.’s holdings in Samsara were worth $584,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new stake in Samsara in the 4th quarter worth approximately $275,000. GLOBALT Investments LLC GA raised its position in shares of Samsara by 0.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock worth $2,444,000 after buying an additional 182 shares in the last quarter. Choate Investment Advisors boosted its stake in Samsara by 67.8% during the fourth quarter. Choate Investment Advisors now owns 11,777 shares of the company’s stock valued at $515,000 after buying an additional 4,757 shares during the period. Left Brain Wealth Management LLC purchased a new position in Samsara during the fourth quarter worth about $306,000. Finally, LBP AM SA bought a new position in Samsara in the 4th quarter worth about $16,836,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IOT. Piper Sandler upgraded Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target for the company in a research report on Monday, March 10th. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Monday, March 10th. Berenberg Bank assumed coverage on shares of Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Craig Hallum reissued a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Samsara has a consensus rating of “Moderate Buy” and an average target price of $49.60.

Samsara Price Performance

IOT opened at $42.54 on Wednesday. The firm has a market capitalization of $23.87 billion, a price-to-earnings ratio of -90.51 and a beta of 1.63. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90. The business has a 50 day simple moving average of $47.74 and a two-hundred day simple moving average of $48.17.

Insider Activity at Samsara

In other Samsara news, insider Adam Eltoukhy sold 3,903 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $34.07, for a total transaction of $132,975.21. Following the transaction, the insider now directly owns 320,936 shares of the company’s stock, valued at approximately $10,934,289.52. The trade was a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the company’s stock in a transaction 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 transaction, the director now owns 373,579 shares of the company’s stock, 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 a total of 1,584,660 shares of company stock worth $69,559,476 over the last quarter. 60.04% of the stock is 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.