2,432,466 Shares in Samsara Inc. (NYSE:IOT) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of Samsara Inc. (NYSE:IOT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,432,466 shares of the company’s stock, valued at approximately $106,274,000. Norges Bank owned approximately 0.43% of Samsara as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of IOT. Jones Financial Companies Lllp bought a new position in Samsara during the fourth quarter valued at about $31,000. Hobbs Group Advisors LLC bought a new position in shares of Samsara during the 3rd quarter valued at about $34,000. IFP Advisors Inc grew its stake in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after purchasing an additional 598 shares during the last quarter. Continuum Advisory LLC raised its holdings in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after purchasing an additional 247 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Samsara by 62.1% during the fourth quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock valued at $72,000 after purchasing an additional 635 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Samsara Price Performance

Shares of IOT stock opened at $38.73 on Wednesday. The firm has a market cap of $21.73 billion, a P/E ratio of -82.40 and a beta of 1.63. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The stock’s 50-day moving average is $47.06 and its two-hundred day moving average is $47.93.

Analyst Ratings Changes

Several research analysts have issued reports on the company. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price target on the stock in a report on Monday, March 10th. Berenberg Bank assumed coverage on Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price for the company. Royal Bank of Canada decreased their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Cowen restated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Finally, Truist Financial decreased their target price on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

Insider Buying and Selling

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjit Biswas sold 13,086 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total transaction of $729,544.50. Following the transaction, the insider now owns 1,571,848 shares in the company, valued at $87,630,526. This represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,607,296 shares of company stock worth $70,334,047. Insiders own 60.04% of the company’s stock.

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.