Handelsbanken Fonder AB Boosts Stock Holdings in Samsara Inc. (NYSE:IOT)

Handelsbanken Fonder AB lifted its holdings in shares of Samsara Inc. (NYSE:IOT) by 12.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,000 shares of the company’s stock after buying an additional 6,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Samsara were worth $2,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alberta Investment Management Corp bought a new stake in Samsara during the 4th quarter valued at $3,460,000. Atria Wealth Solutions Inc. grew its position in shares of Samsara by 15.8% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,348 shares of the company’s stock valued at $583,000 after purchasing an additional 1,818 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Samsara by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after purchasing an additional 300 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Samsara by 3.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 81,334 shares of the company’s stock worth $3,553,000 after purchasing an additional 3,047 shares during the period. Finally, Blue Trust Inc. boosted its stake in Samsara by 10,923.1% in the 4th quarter. Blue Trust Inc. now owns 7,165 shares of the company’s stock worth $313,000 after purchasing an additional 7,100 shares during the period. 96.02% of the stock is owned by institutional investors.

Samsara Price Performance

Shares of IOT opened at $50.59 on Tuesday. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The stock has a 50 day simple moving average of $48.99 and a two-hundred day simple moving average of $48.01. The firm has a market cap of $28.39 billion, a P/E ratio of -107.64 and a beta of 1.61.

Insider Transactions at Samsara

In other news, insider Sanjit Biswas sold 170,416 shares of Samsara stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $45.30, for a total value of $7,719,844.80. Following the transaction, the insider now owns 1,175,569 shares in the company, valued at approximately $53,253,275.70. The trade was a 12.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 9,043 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total value of $487,236.84. Following the transaction, the insider now owns 331,106 shares in the company, valued at approximately $17,839,991.28. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,388,355 shares of company stock worth $67,123,186. 60.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IOT. Truist Financial increased their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, November 18th. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Loop Capital boosted their price target on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada increased their price objective on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Piper Sandler lifted their price objective on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.67.

Samsara Company 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.