Elevate Wealth Advisory Inc. Boosts Stock Position in Samsara Inc. (NYSE:IOT)

Elevate Wealth Advisory Inc. boosted its position in shares of Samsara Inc. (NYSE:IOT) by 14.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,651 shares of the company’s stock after acquiring an additional 2,391 shares during the quarter. Elevate Wealth Advisory Inc.’s holdings in Samsara were worth $815,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vinva Investment Management Ltd purchased a new position in shares of Samsara in the fourth quarter valued at approximately $4,182,000. Andar Capital Management HK Ltd acquired a new stake in Samsara during the 4th quarter worth approximately $3,058,000. Xponance Inc. boosted its position in Samsara by 38.9% in the 4th quarter. Xponance Inc. now owns 13,356 shares of the company’s stock valued at $584,000 after buying an additional 3,742 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in shares of Samsara in the fourth quarter worth $275,000. Finally, GLOBALT Investments LLC GA increased its position in shares of Samsara by 0.3% during the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock worth $2,444,000 after acquiring an additional 182 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 3,903 shares of the 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 completion of the sale, the insider now owns 320,936 shares in the company, valued at $10,934,289.52. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjit Biswas sold 48,884 shares of Samsara stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $45.36, for a total transaction of $2,217,378.24. Following the completion of the transaction, the insider now owns 2,007,964 shares in the company, valued at approximately $91,081,247.04. This represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,597,277 shares of company stock worth $70,158,166. Insiders own 60.04% of the company’s stock.

Samsara Stock Up 4.8 %

IOT opened at $39.94 on Thursday. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90. The business’s 50 day moving average is $47.96 and its two-hundred day moving average is $48.10. The firm has a market cap of $22.41 billion, a price-to-earnings ratio of -84.98 and a beta of 1.63.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler raised Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price for the company in a research note on Monday, March 10th. Royal Bank of Canada lowered their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Berenberg Bank began coverage on shares of Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price on the stock. Loop Capital boosted their price target on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, BMO Capital Markets upgraded 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. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Samsara presently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

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.