Samsara Inc. (NYSE:IOT) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN raised its holdings in Samsara Inc. (NYSE:IOT - Free Report) by 101.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,176 shares of the company's stock after buying an additional 65,028 shares during the quarter. Wells Fargo & Company MN's holdings in Samsara were worth $5,644,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in IOT. Wellington Management Group LLP increased its holdings in shares of Samsara by 5.1% during the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company's stock valued at $383,000 after acquiring an additional 388 shares in the last quarter. Barclays PLC raised its holdings in shares of Samsara by 163.2% in the third quarter. Barclays PLC now owns 412,066 shares of the company's stock worth $19,829,000 after buying an additional 255,532 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Samsara in the third quarter worth $1,689,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Samsara during the third quarter valued at $546,000. Finally, Franklin Resources Inc. acquired a new position in shares of Samsara in the 3rd quarter valued at $10,868,000. Institutional investors and hedge funds own 96.02% of the company's stock.

Samsara Stock Up 5.5 %

Shares of IOT stock traded up $1.96 during trading hours on Wednesday, hitting $37.43. 2,562,234 shares of the company's stock were exchanged, compared to its average volume of 3,782,285. The firm has a 50 day moving average of $41.73 and a two-hundred day moving average of $46.60. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The firm has a market cap of $21.31 billion, a P/E ratio of -79.57 and a beta of 1.71.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on IOT. Raymond James assumed coverage on Samsara in a report on Wednesday, February 26th. They issued a "market perform" rating on the stock. Cowen reissued a "buy" rating on shares of Samsara in a research report on Friday, March 7th. Berenberg Bank initiated coverage on shares of Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 price objective for the company. Craig Hallum reissued a "hold" rating on shares of Samsara in a report on Friday, March 7th. Finally, Truist Financial lowered their price target on shares of Samsara from $50.00 to $42.00 and set a "hold" rating on the stock in a report on Friday, March 7th. Nine 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, the company has a consensus rating of "Moderate Buy" and an average price target of $48.87.

Insider Activity

In other news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the completion of the sale, the insider now directly owns 331,106 shares in the company, valued at $17,839,991.28. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Bicket sold 107,152 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $51.13, for a total transaction of $5,478,681.76. Following the sale, the insider now directly owns 138,000 shares of the company's stock, valued at approximately $7,055,940. This represents a 43.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,190,384 shares of company stock worth $49,818,557 over the last 90 days. 60.04% of the stock is currently owned by company insiders.

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.