Sit Investment Associates Inc. Makes New Investment in Samsara Inc. (NYSE:IOT)

Sit Investment Associates Inc. acquired a new position in shares of Samsara Inc. (NYSE:IOT - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 79,400 shares of the company's stock, valued at approximately $3,469,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IOT. The Manufacturers Life Insurance Company raised its holdings in shares of Samsara by 14.1% in the third quarter. The Manufacturers Life Insurance Company now owns 47,723 shares of the company's stock worth $2,296,000 after acquiring an additional 5,897 shares during the last quarter. Captrust Financial Advisors raised its stake in Samsara by 16.7% in the 3rd quarter. Captrust Financial Advisors now owns 10,240 shares of the company's stock valued at $493,000 after purchasing an additional 1,463 shares during the last quarter. Benjamin Edwards Inc. acquired a new position in Samsara in the 3rd quarter valued at about $312,000. HighTower Advisors LLC lifted its holdings in Samsara by 193.4% in the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company's stock valued at $2,981,000 after purchasing an additional 40,833 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Samsara during the 3rd quarter worth about $430,000. Hedge funds and other institutional investors own 96.02% of the company's stock.

Analyst Ratings Changes

IOT has been the subject of a number of analyst reports. Berenberg Bank initiated coverage on shares of Samsara in a research report on Monday, February 3rd. They issued a "hold" rating and a $57.00 price objective for the company. BMO Capital Markets raised Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 price target on the stock in a research note on Monday, March 10th. Wells Fargo & Company decreased their price objective on Samsara from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Royal Bank of Canada reduced 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. Finally, Truist Financial lowered their price target on Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $49.20.

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Samsara Trading Up 0.8 %

IOT traded up $0.30 during trading on Friday, hitting $37.70. 2,642,386 shares of the company's stock were exchanged, compared to its average volume of 3,768,893. The stock has a 50 day moving average price of $44.21 and a 200 day moving average price of $47.08. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The firm has a market cap of $21.46 billion, a P/E ratio of -80.21 and a beta of 1.71.

Insider Activity at Samsara

In other Samsara news, insider Sanjit Biswas sold 13,086 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $55.75, for a total transaction of $729,544.50. Following the transaction, the insider now owns 1,571,848 shares in the company, valued at $87,630,526. The trade was a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 3,903 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the sale, the insider now directly owns 320,936 shares of the company's stock, valued at $10,934,289.52. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,563,113 shares of company stock worth $66,802,508. 60.04% of the stock is currently owned by corporate insiders.

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.