KLP Kapitalforvaltning AS Takes Position in Samsara Inc. (NYSE:IOT)

KLP Kapitalforvaltning AS acquired a new stake 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 fund acquired 61,700 shares of the company's stock, valued at approximately $2,696,000.

A number of other hedge funds have also modified their holdings of the stock. Jones Financial Companies Lllp bought a new position in Samsara during the fourth quarter valued at about $31,000. Hobbs Group Advisors LLC acquired a new stake in shares of Samsara in the third quarter valued at about $34,000. IFP Advisors Inc increased its stake in shares of Samsara by 290.3% in the fourth quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares during the period. Continuum Advisory LLC lifted its position in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after purchasing an additional 247 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Samsara by 62.1% during the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock valued at $72,000 after purchasing an additional 635 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Trading Down 4.4 %

IOT stock traded down $1.81 during trading on Friday, hitting $38.87. The company had a trading volume of 4,263,743 shares, compared to its average volume of 3,583,411. The company has a fifty day moving average price of $47.39 and a two-hundred day moving average price of $48.05. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The company has a market cap of $21.81 billion, a P/E ratio of -82.71 and a beta of 1.63.

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Insider Activity at Samsara

In other Samsara news, insider Sanjit Biswas sold 59,114 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.25, for a total transaction of $2,674,908.50. Following the sale, the insider now owns 196,678 shares of the company's stock, valued at $8,899,679.50. This represents a 23.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Bicket sold 107,152 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total transaction of $5,478,681.76. Following the transaction, the insider now owns 138,000 shares in the company, valued at $7,055,940. The trade was a 43.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,607,296 shares of company stock valued at $70,334,047 in the last ninety days. Insiders own 60.04% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on IOT. Loop Capital lifted their price target on Samsara from $46.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, December 5th. Truist Financial dropped their target price on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, March 7th. Cowen reissued a "buy" rating on shares of Samsara in a report on Friday, March 7th. Berenberg Bank started 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. Finally, Piper Sandler upgraded shares of Samsara from a "neutral" rating to an "overweight" rating and set a $50.00 target price for the company in a research note on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.60.

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.