Swedbank AB Grows Stake in Samsara Inc. (NYSE:IOT)

Swedbank AB increased its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 76.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,328 shares of the company's stock after acquiring an additional 9,248 shares during the period. Swedbank AB's holdings in Samsara were worth $932,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of IOT. Baillie Gifford & Co. increased its position in shares of Samsara by 23.4% in the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company's stock valued at $1,628,592,000 after buying an additional 6,411,178 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company's stock worth $90,026,000 after acquiring an additional 1,777,757 shares during the period. FMR LLC grew its position in shares of Samsara by 15.6% in the third 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 period. Allspring Global Investments Holdings LLC raised its position in shares of Samsara by 84.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,608,921 shares of the company's stock worth $77,421,000 after purchasing an additional 734,619 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Samsara by 55.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company's stock valued at $88,013,000 after buying an additional 650,982 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.

Samsara Stock Up 0.0 %

NYSE:IOT traded up $0.02 during trading hours on Thursday, reaching $54.02. 2,146,454 shares of the stock were exchanged, compared to its average volume of 2,516,239. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $57.51. The business has a 50-day moving average of $47.66 and a two-hundred day moving average of $46.20. The company has a market capitalization of $30.32 billion, a price-to-earnings ratio of -114.94 and a beta of 1.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IOT shares. Wells Fargo & Company increased their target price on Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a report on Friday, December 6th. TD Cowen lifted their target price on shares of Samsara from $46.00 to $56.00 and gave the stock a "buy" rating in a research note on Friday, October 11th. Royal Bank of Canada raised their price target on shares of Samsara from $49.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Morgan Stanley increased their price objective on shares of Samsara from $40.00 to $52.00 and gave the company an "equal weight" rating in a report on Wednesday, November 20th. Finally, BMO Capital Markets boosted their target price on Samsara from $44.00 to $57.00 and gave the stock a "market perform" rating in a report on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Samsara has an average rating of "Hold" and a consensus price target of $51.67.

Insider Buying and Selling

In other news, CEO Sanjit Biswas sold 75,594 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the completion of the transaction, the chief executive officer now owns 120,292 shares of the company's stock, valued at approximately $6,723,119.88. This trade represents a 38.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.55, for a total transaction of $461,161.85. Following the sale, the insider now owns 396,784 shares in the company, valued at approximately $19,660,647.20. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,549,936 shares of company stock valued at $75,624,852. Corporate insiders own 60.04% of the company's stock.

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.