State Street Corp Buys 95,006 Shares of Samsara Inc. (NYSE:IOT)

State Street Corp raised its position in Samsara Inc. (NYSE:IOT - Free Report) by 4.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,125,584 shares of the company's stock after acquiring an additional 95,006 shares during the period. State Street Corp owned approximately 0.38% of Samsara worth $102,283,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in IOT. Private Trust Co. NA lifted its position in Samsara by 19.2% in the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company's stock valued at $75,000 after acquiring an additional 250 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Samsara by 3.5% during the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company's stock valued at $433,000 after buying an additional 304 shares during the last quarter. UMB Bank n.a. grew its holdings in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock worth $49,000 after buying an additional 418 shares in the last quarter. Resources Management Corp CT ADV raised its position in Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company's stock valued at $32,000 after buying an additional 490 shares during the last quarter. Finally, Capstone Wealth Management Group LLC lifted its stake in Samsara by 2.3% during the 3rd quarter. Capstone Wealth Management Group LLC now owns 26,660 shares of the company's stock valued at $1,283,000 after acquiring an additional 610 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IOT. Truist Financial increased their target price on shares of Samsara from $40.00 to $50.00 and gave the company a "hold" rating in a report on Monday, November 18th. Bank of America lifted their target price on shares of Samsara from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Friday, September 6th. BNP Paribas initiated coverage on Samsara in a report on Tuesday, October 8th. They issued a "neutral" rating and a $46.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Samsara from $40.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Finally, BMO Capital Markets upped their price objective on Samsara from $44.00 to $57.00 and gave the company a "market perform" rating in a research note on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $51.29.

Samsara Price Performance

Shares of IOT traded up $1.08 during trading hours on Monday, hitting $47.16. The company's stock had a trading volume of 4,950,587 shares, compared to its average volume of 3,589,366. The company has a market cap of $26.24 billion, a price-to-earnings ratio of -100.34 and a beta of 1.53. The business has a 50 day simple moving average of $50.44 and a two-hundred day simple moving average of $42.80. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $57.51.

Insider Activity at Samsara

In other news, major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $46.44, for a total transaction of $91,858.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sanjit Biswas sold 83,333 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $53.81, for a total transaction of $4,484,148.73. Following the completion of the transaction, the insider now owns 19,200 shares of the company's stock, valued at $1,033,152. This trade represents a 81.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,473,274 shares of company stock worth $73,649,824. Corporate 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.