Jordan Park Trust Co LLC Invests $112.04 Million in Samsara Inc. (NYSE:IOT)

Jordan Park Trust Co LLC bought a new stake in Samsara Inc. (NYSE:IOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,564,462 shares of the company's stock, valued at approximately $112,041,000. Samsara accounts for about 93.7% of Jordan Park Trust Co LLC's investment portfolio, making the stock its biggest holding. Jordan Park Trust Co LLC owned 0.46% of Samsara as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Continuum Advisory LLC boosted its holdings in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock valued at $45,000 after buying an additional 247 shares during the period. Private Trust Co. NA raised its position in shares of Samsara by 19.2% during the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock worth $75,000 after purchasing an additional 250 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Samsara by 5.5% in the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company's stock worth $253,000 after purchasing an additional 300 shares during the last quarter. Wellington Management Group LLP boosted its position in Samsara by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company's stock valued at $383,000 after purchasing an additional 388 shares during the period. Finally, abrdn plc grew its stake in Samsara by 11.6% during the 4th quarter. abrdn plc now owns 4,792 shares of the company's stock worth $210,000 after buying an additional 498 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

IOT has been the subject of several analyst reports. Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. JPMorgan Chase & Co. boosted their target price on shares of Samsara from $40.00 to $44.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Loop Capital raised their price target on shares of Samsara from $46.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Wells Fargo & Company reduced their price objective on Samsara from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Finally, Royal Bank of Canada lowered their target price on Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.60.

Insiders Place Their Bets

In other news, insider Adam Eltoukhy sold 23,960 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $43.81, for a total value of $1,049,687.60. Following the transaction, the insider now directly owns 331,106 shares of the company's stock, valued at $14,505,753.86. The trade was a 6.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjit Biswas sold 48,884 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $45.36, for a total value of $2,217,378.24. Following the sale, the insider now directly owns 2,007,964 shares of the company's stock, valued at $91,081,247.04. This represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,292,341 shares of company stock worth $60,151,786 over the last 90 days. Corporate insiders own 60.04% of the company's stock.

Samsara Stock Up 5.9 %

Shares of IOT stock traded up $2.12 during trading hours on Wednesday, reaching $38.02. 7,391,813 shares of the company's stock were exchanged, compared to its average volume of 3,766,627. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The business has a fifty day moving average price of $48.67 and a 200-day moving average price of $48.27. The stock has a market capitalization of $21.33 billion, a P/E ratio of -80.88 and a beta of 1.63.

Samsara Company 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.