Mission Creek Capital Partners Inc. Acquires Shares of 369,137 Samsara Inc. (NYSE:IOT)

Mission Creek Capital Partners Inc. bought a new position in Samsara Inc. (NYSE:IOT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 369,137 shares of the company’s stock, valued at approximately $16,128,000. Samsara comprises approximately 3.2% of Mission Creek Capital Partners Inc.’s investment portfolio, making the stock its 3rd biggest position.

A number of other institutional investors have also recently modified their holdings of IOT. GLOBALT Investments LLC GA lifted its position in Samsara by 0.3% in the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after acquiring an additional 182 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Samsara by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock valued at $253,000 after purchasing an additional 300 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 414 shares during the last quarter. abrdn plc increased its holdings in Samsara by 11.6% in the 4th quarter. abrdn plc now owns 4,792 shares of the company’s stock worth $210,000 after buying an additional 498 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Samsara by 7.3% in the 4th quarter. Wellington Management Group LLP now owns 8,538 shares of the company’s stock worth $373,000 after buying an additional 579 shares during the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Samsara news, insider Adam Eltoukhy sold 3,903 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was 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 $10,934,289.52. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Bicket sold 107,152 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total value of $5,478,681.76. Following the completion of the transaction, the insider now directly owns 138,000 shares of the company’s stock, valued at approximately $7,055,940. This trade represents a 43.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,350,384 shares of company stock worth $55,413,757 in the last three months. Company insiders own 60.04% of the company’s stock.

Samsara Trading Up 0.5 %

NYSE IOT opened at $39.43 on Friday. The stock has a market cap of $22.45 billion, a price-to-earnings ratio of -83.89 and a beta of 1.71. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The company’s 50 day moving average is $40.47 and its two-hundred day moving average is $46.41.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IOT. Morgan Stanley dropped their price target on shares of Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Wells Fargo & Company dropped their target price on shares of Samsara from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Raymond James began coverage on shares of Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating for the company. Truist Financial cut their price objective on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a report on Friday, March 7th. Finally, Berenberg Bank initiated coverage on Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.87.

Samsara 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.