Sumitomo Mitsui Trust Group Inc. Increases Holdings in Samsara Inc. (NYSE:IOT)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 459,416 shares of the company's stock after buying an additional 83,133 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.08% of Samsara worth $20,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IOT. Baillie Gifford & Co. grew its stake in Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company's stock valued at $1,628,592,000 after purchasing an additional 6,411,178 shares during the last quarter. FMR LLC grew its stake in Samsara by 15.6% during the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company's stock valued at $572,176,000 after purchasing an additional 1,604,822 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Samsara by 4.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company's stock valued at $168,741,000 after purchasing an additional 138,702 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 purchasing an additional 196,867 shares during the last quarter. Finally, State Street Corp grew its stake in Samsara by 4.7% during the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company's stock valued at $102,283,000 after purchasing an additional 95,006 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Stock Up 4.6 %

Shares of Samsara stock traded up $2.61 during mid-day trading on Friday, reaching $58.98. 3,560,948 shares of the stock traded hands, compared to its average volume of 2,405,116. The business has a 50-day moving average of $47.89 and a 200 day moving average of $47.18. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $59.04. The stock has a market capitalization of $33.10 billion, a PE ratio of -125.48 and a beta of 1.61.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IOT. Wells Fargo & Company boosted their price target on Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. StockNews.com upgraded Samsara from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their target price on Samsara from $40.00 to $44.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Berenberg Bank assumed coverage on Samsara in a research note on Monday, February 3rd. They issued a "hold" rating and a $57.00 target price on the stock. Finally, Piper Sandler upped their target price on Samsara from $40.00 to $50.00 and gave the stock a "neutral" rating in a research note on Friday, December 6th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Samsara presently has an average rating of "Hold" and a consensus price target of $51.67.

Insider Buying and Selling at Samsara

In related news, insider Sanjit Biswas sold 56,474 shares of Samsara stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $43.33, for a total transaction of $2,447,018.42. Following the transaction, the insider now owns 116,257 shares in the company, valued at approximately $5,037,415.81. This trade represents a 32.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dominic Phillips sold 20,801 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $50.97, for a total value of $1,060,226.97. Following the sale, the insider now directly owns 755,001 shares of the company's stock, valued at approximately $38,482,400.97. This trade represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,639,006 shares of company stock valued at $80,609,827 over the last quarter. 60.04% of the stock is currently owned by 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.