Bank of Nova Scotia bought a new stake in Samsara Inc. (NYSE:IOT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,691 shares of the company's stock, valued at approximately $336,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in IOT. FMR LLC lifted its position in Samsara by 24.0% during the 4th quarter. FMR LLC now owns 14,743,175 shares of the company's stock worth $644,129,000 after acquiring an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC purchased a new position in Samsara in the 4th quarter valued at $112,041,000. Norges Bank acquired a new position in Samsara in the 4th quarter valued at $106,274,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Samsara by 107.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company's stock worth $181,045,000 after acquiring an additional 2,148,081 shares during the period. Finally, Lord Abbett & CO. LLC increased its stake in shares of Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock worth $90,026,000 after acquiring an additional 1,777,757 shares during the period. Hedge funds and other institutional investors own 96.02% of the company's stock.
Insider Buying and Selling
In other news, Director Jonathan Chadwick sold 22,500 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $38.72, for a total transaction of $871,200.00. Following the completion of the sale, the director now directly owns 373,579 shares of the company's stock, valued at $14,464,978.88. The trade was a 5.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjit Biswas sold 13,086 shares of Samsara stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the completion of the transaction, the insider now owns 1,571,848 shares in the company, valued at $87,630,526. The trade was a 0.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,264,146 shares of company stock worth $53,291,272. 60.04% of the stock is owned by company insiders.
Samsara Price Performance
IOT traded down $1.32 during trading on Friday, hitting $37.53. The company's stock had a trading volume of 2,784,887 shares, compared to its average volume of 3,765,329. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90. The firm's 50 day moving average price is $42.55 and its 200-day moving average price is $46.75. The stock has a market cap of $21.37 billion, a PE ratio of -79.85 and a beta of 1.71.
Analyst Ratings Changes
A number of brokerages have weighed in on IOT. Royal Bank of Canada lowered their price objective on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a report on Friday, March 7th. Cowen restated a "buy" rating on shares of Samsara in a research report on Friday, March 7th. 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. Wells Fargo & Company lowered their target price on shares of Samsara from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Finally, Craig Hallum reissued a "hold" rating on shares of Samsara in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $49.07.
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Samsara Company Profile
(
Free Report)
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.
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