Mitsubishi UFJ Asset Management Co. Ltd. Purchases 23,687 Shares of Samsara Inc. (NYSE:IOT)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Samsara Inc. (NYSE:IOT - Free Report) by 9.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 278,012 shares of the company's stock after acquiring an additional 23,687 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Samsara were worth $12,764,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IOT. Vanguard Group Inc. boosted its position in shares of Samsara by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company's stock valued at $916,555,000 after purchasing an additional 863,197 shares during the period. Amundi increased its stake in Samsara by 22.2% in the 4th quarter. Amundi now owns 3,013,265 shares of the company's stock valued at $133,126,000 after buying an additional 547,390 shares during the period. Jordan Park Trust Co LLC acquired a new stake in shares of Samsara during the 4th quarter valued at $112,041,000. Geode Capital Management LLC grew its holdings in shares of Samsara by 9.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company's stock valued at $109,307,000 after acquiring an additional 196,867 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Samsara by 4.7% during the third quarter. State Street Corp now owns 2,125,584 shares of the company's stock worth $102,283,000 after acquiring an additional 95,006 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

Samsara Stock Down 1.8 %

NYSE IOT traded down $0.60 during midday trading on Friday, hitting $33.51. The company had a trading volume of 13,034,915 shares, compared to its average volume of 3,678,260. The firm has a fifty day simple moving average of $46.30 and a two-hundred day simple moving average of $47.67. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The stock has a market cap of $19.08 billion, a price-to-earnings ratio of -71.30 and a beta of 1.71.

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Analyst Ratings Changes

Several research analysts have weighed in on IOT shares. Wells Fargo & Company dropped their target price on Samsara from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Royal Bank of Canada cut their price objective on shares of Samsara from $64.00 to $54.00 and set an "outperform" rating on the stock in a research report on Friday, March 7th. Raymond James began coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a "market perform" rating for the company. JPMorgan Chase & Co. raised their price target on shares of Samsara from $40.00 to $44.00 and gave the company a "neutral" rating in a report on Friday, December 6th. Finally, Piper Sandler raised shares of 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. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Samsara presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.60.

Insider Activity at Samsara

In other news, insider Adam Eltoukhy sold 3,903 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the transaction, the insider now owns 320,936 shares in the company, valued at approximately $10,934,289.52. This represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dominic Phillips sold 21,157 shares of Samsara stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total transaction of $811,794.09. Following the sale, the insider now owns 638,642 shares in the company, valued at approximately $24,504,693.54. This trade represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,628,453 shares of company stock worth $71,145,841. Company insiders own 60.04% of the company's stock.

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.