Allstate Corp Makes New $278,000 Investment in Samsara Inc. (NYSE:IOT)

Allstate Corp purchased a new stake in Samsara Inc. (NYSE:IOT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,359 shares of the company’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IOT. DnB Asset Management AS boosted its stake in Samsara by 2.8% in the 4th quarter. DnB Asset Management AS now owns 36,613 shares of the company’s stock worth $1,600,000 after purchasing an additional 1,006 shares during the period. Norges Bank bought a new position in shares of Samsara in the fourth quarter valued at approximately $106,274,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Samsara by 9.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 278,012 shares of the company’s stock valued at $12,764,000 after acquiring an additional 23,687 shares in the last quarter. Financial Engines Advisors L.L.C. increased its holdings in Samsara by 1.7% during the 4th quarter. Financial Engines Advisors L.L.C. now owns 65,899 shares of the company’s stock worth $2,879,000 after acquiring an additional 1,075 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Samsara by 0.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 860,092 shares of the company’s stock worth $37,577,000 after purchasing an additional 7,290 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Samsara news, insider Sanjit Biswas sold 59,114 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.25, for a total transaction of $2,674,908.50. Following the completion of the sale, the insider now owns 196,678 shares of the company’s stock, valued at $8,899,679.50. This represents a 23.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dominic Phillips sold 21,157 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total transaction of $811,794.09. Following the completion of the transaction, the insider now owns 638,642 shares in the company, valued at $24,504,693.54. The trade was a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,628,453 shares of company stock worth $71,145,841 in the last ninety days. 60.04% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on IOT shares. Truist Financial decreased their price target on shares of Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, March 7th. BMO Capital Markets upgraded Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Monday, March 10th. Cowen reiterated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Piper Sandler upgraded shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price objective on the stock in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.60.

Samsara Trading Down 1.8 %

Shares of NYSE:IOT opened at $38.09 on Thursday. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The stock’s 50-day moving average price is $46.86 and its 200-day moving average price is $47.86. The stock has a market capitalization of $21.38 billion, a P/E ratio of -81.04 and a beta of 1.63.

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.