Norges Bank Takes $106.27 Million Position in Samsara Inc. (NYSE:IOT)

Norges Bank purchased a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,432,466 shares of the company's stock, valued at approximately $106,274,000. Norges Bank owned approximately 0.43% of Samsara at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jordan Park Trust Co LLC purchased a new stake in Samsara in the fourth quarter valued at about $112,041,000. Lord Abbett & CO. LLC raised its position in shares of Samsara by 1,909.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock valued at $90,026,000 after purchasing an additional 1,777,757 shares during the last quarter. Vanguard Group Inc. boosted its stake in Samsara by 4.3% in the 4th 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. Jennison Associates LLC grew its position in Samsara by 13,426.9% during the 4th quarter. Jennison Associates LLC now owns 593,562 shares of the company's stock worth $25,933,000 after purchasing an additional 589,174 shares during the last quarter. Finally, Amundi increased its stake in Samsara by 22.2% during the 4th quarter. Amundi now owns 3,013,265 shares of the company's stock valued at $133,126,000 after purchasing an additional 547,390 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IOT shares. Berenberg Bank initiated coverage on shares of Samsara in a report on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective on the stock. BMO Capital Markets raised Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a report on Monday, March 10th. Piper Sandler upgraded Samsara from a "neutral" rating to an "overweight" rating and set a $50.00 price objective for the company in a research note on Monday, March 10th. Truist Financial dropped their target price on Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. Finally, Wells Fargo & Company reduced their price target on shares of Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $49.60.

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Insider Transactions at Samsara

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 completion of the transaction, the insider now directly owns 320,936 shares in the company, 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 accessible through this hyperlink. Also, insider Sanjit Biswas sold 13,086 shares of Samsara stock in a transaction dated 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 sale, the insider now owns 1,571,848 shares in the company, valued at approximately $87,630,526. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,628,453 shares of company stock valued at $71,145,841 in the last three months. 60.04% of the stock is currently owned by company insiders.

Samsara Price Performance

NYSE IOT traded down $0.60 during trading hours on Friday, reaching $33.51. The company's stock had a trading volume of 13,034,915 shares, compared to its average volume of 3,678,260. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of -71.30 and a beta of 1.71. The company's 50-day moving average is $46.30 and its two-hundred day moving average is $47.67. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

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.