Mitsubishi UFJ Trust & Banking Corp Purchases 7,290 Shares of Samsara Inc. (NYSE:IOT)

Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Samsara Inc. (NYSE:IOT) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 860,092 shares of the company’s stock after buying an additional 7,290 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.15% of Samsara worth $37,577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of IOT. Zevenbergen Capital Investments LLC bought a new stake in Samsara during the 4th quarter worth approximately $18,080,000. Vanguard Group Inc. boosted its stake in Samsara by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after purchasing an additional 863,197 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Samsara by 26.6% during the fourth quarter. LPL Financial LLC now owns 127,184 shares of the company’s stock worth $5,557,000 after purchasing an additional 26,684 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Samsara in the fourth quarter valued at $2,696,000. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Samsara in the fourth quarter valued at about $441,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Trading Down 2.0 %

Samsara stock opened at $41.74 on Thursday. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90. The company has a fifty day simple moving average of $47.66 and a 200 day simple moving average of $48.13. The company has a market cap of $23.42 billion, a P/E ratio of -88.80 and a beta of 1.63.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research report on Monday, March 10th. Truist Financial lowered their price target 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. Raymond James assumed coverage on Samsara in a report on Wednesday, February 26th. They set a “market perform” rating on the stock. Piper Sandler upgraded shares of 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. Finally, Berenberg Bank started coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price for the company. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.60.

Insider Activity

In other Samsara news, insider Adam Eltoukhy sold 3,903 shares of the company’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 sale, the insider now directly owns 320,936 shares of the company’s stock, valued at approximately $10,934,289.52. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jonathan Chadwick sold 22,500 shares of Samsara stock in a transaction dated Monday, March 17th. The shares were 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 directly owns 373,579 shares of the company’s stock, valued at approximately $14,464,978.88. This trade represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,513,276 shares of company stock worth $66,321,273 in the last quarter. Corporate insiders own 60.04% of the company’s stock.

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.