Arizona State Retirement System Grows Position in Samsara Inc. (NYSE:IOT)

Arizona State Retirement System raised its stake in shares of Samsara Inc. (NYSE:IOT) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,450 shares of the company’s stock after acquiring an additional 4,024 shares during the period. Arizona State Retirement System’s holdings in Samsara were worth $2,772,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IOT. Assetmark Inc. bought a new position in shares of Samsara during the fourth quarter valued at about $433,000. Victory Capital Management Inc. increased its stake in Samsara by 12.7% in the 4th quarter. Victory Capital Management Inc. now owns 76,442 shares of the company’s stock valued at $3,340,000 after buying an additional 8,591 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Samsara by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock worth $82,004,000 after buying an additional 47,911 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Samsara in the 4th quarter worth approximately $431,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Samsara in the fourth quarter valued at approximately $31,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on 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. Piper Sandler boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada reduced their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday. Raymond James started coverage on shares of Samsara in a research report on Wednesday, February 26th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley increased their target price on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.60.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 9,043 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following 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 SEC, which is available at this link. Also, insider Sanjit Biswas sold 145,392 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $44.27, for a total transaction of $6,436,503.84. Following the completion of the transaction, the insider now owns 120,000 shares of the company’s stock, valued at $5,312,400. This trade represents a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,369,776 shares of company stock valued at $64,065,203. Corporate insiders own 60.04% of the company’s stock.

Samsara Price Performance

Samsara stock opened at $35.32 on Monday. The firm has a market capitalization of $19.82 billion, a P/E ratio of -75.14 and a beta of 1.63. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90. The business has a fifty day moving average price of $49.02 and a 200-day moving average price of $48.36.

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.