SBI Securities Co. Ltd. Makes New Investment in Samsara Inc. (NYSE:IOT)

SBI Securities Co. Ltd. purchased a new position in Samsara Inc. (NYSE:IOT) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 9,862 shares of the company’s stock, valued at approximately $431,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IOT. International Assets Investment Management LLC raised its holdings in shares of Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after buying an additional 10,452 shares during the last quarter. abrdn plc purchased a new position in shares of Samsara during the third quarter worth $207,000. Farther Finance Advisors LLC raised its holdings in shares of Samsara by 77.5% during the third quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $91,000 after purchasing an additional 821 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Samsara by 2.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 78,287 shares of the company’s stock worth $3,767,000 after purchasing an additional 2,114 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Buying and Selling at Samsara

In other news, Director Jonathan Chadwick sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $45.37, for a total value of $1,020,825.00. Following the sale, the director now directly owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. The trade was a 5.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sanjit Biswas sold 13,086 shares of the company’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 completion of the transaction, the insider now owns 1,571,848 shares of the company’s stock, valued at approximately $87,630,526. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,244,520 shares of company stock worth $58,644,560 in the last ninety days. 60.04% of the stock is owned by insiders.

Samsara Price Performance

NYSE:IOT opened at $44.18 on Wednesday. The firm has a market capitalization of $24.80 billion, a price-to-earnings ratio of -94.01 and a beta of 1.61. The company’s 50-day moving average is $49.32 and its two-hundred day moving average is $48.37. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IOT. Royal Bank of Canada raised their target price on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Piper Sandler lifted their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Truist Financial lifted their target price on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. Finally, Berenberg Bank initiated coverage on shares of Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $51.67.

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.