Samsara Inc. (NYSE:IOT) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario raised its stake in Samsara Inc. (NYSE:IOT) by 68.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,604 shares of the company’s stock after acquiring an additional 4,704 shares during the period. Investment Management Corp of Ontario’s holdings in Samsara were worth $507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of IOT. Vanguard Group Inc. boosted its stake in shares of Samsara by 4.3% during the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after buying an additional 863,197 shares during the period. FMR LLC boosted its stake in shares of Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after buying an additional 2,852,575 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after buying an additional 2,148,081 shares during the period. Invesco Ltd. boosted its stake in shares of Samsara by 13.7% during the fourth quarter. Invesco Ltd. now owns 3,476,945 shares of the company’s stock worth $151,908,000 after buying an additional 419,163 shares during the period. Finally, Amundi boosted its stake in shares of Samsara by 22.2% during the fourth quarter. Amundi now owns 3,013,265 shares of the company’s stock worth $133,126,000 after buying an additional 547,390 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IOT shares. Piper Sandler decreased their target price on shares of Samsara from $50.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Cowen reissued a “buy” rating on shares of Samsara in a report on Friday, March 7th. Truist Financial cut 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. Royal Bank of Canada cut their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Finally, Morgan Stanley cut their price target on shares of Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Samsara currently has a consensus rating of “Moderate Buy” and an average target price of $48.87.

Insider Buying and Selling at Samsara

In other news, insider Sanjit Biswas sold 21,735 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $42.98, for a total value of $934,170.30. Following the sale, the insider now directly owns 985,789 shares in the company, valued at $42,369,211.22. This represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Eltoukhy sold 3,903 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 320,936 shares in the company, valued at $10,934,289.52. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,252,807 shares of company stock valued at $48,953,337. Corporate insiders own 60.04% of the company’s stock.

Samsara Trading Up 4.6%

Shares of Samsara stock opened at $45.28 on Tuesday. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The stock has a market cap of $25.78 billion, a PE ratio of -96.34 and a beta of 1.70. The company has a 50-day moving average of $38.70 and a two-hundred day moving average of $45.81.

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.