Choate Investment Advisors Increases Stake in Samsara Inc. (NYSE:IOT)

Choate Investment Advisors raised its stake in Samsara Inc. (NYSE:IOT) by 67.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,777 shares of the company’s stock after acquiring an additional 4,757 shares during the quarter. Choate Investment Advisors’ holdings in Samsara were worth $515,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Samsara by 4.7% in 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 period. HighTower Advisors LLC increased its holdings in Samsara by 193.4% in the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after buying an additional 40,833 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Samsara in the fourth quarter worth about $431,000. Charles Schwab Investment Management Inc. boosted its stake 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 acquiring an additional 47,911 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Samsara by 3.1% during the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after acquiring an additional 18,400 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Price Performance

IOT stock opened at $37.91 on Monday. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The firm has a market capitalization of $21.28 billion, a PE ratio of -80.67 and a beta of 1.63. The business has a 50 day simple moving average of $48.26 and a 200-day simple moving average of $48.19.

Analysts Set New Price Targets

A number of brokerages have issued reports on IOT. Berenberg Bank initiated coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target on the stock. Cowen reiterated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target on the stock in a research note on Monday, March 10th. Truist Financial reduced their price objective on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Finally, Craig Hallum reiterated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.60.

Insiders Place Their Bets

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 23,960 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $43.81, for a total transaction of $1,049,687.60. Following the sale, the insider now owns 331,106 shares of the company’s stock, valued at $14,505,753.86. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,520,643 shares of company stock valued at $67,197,394. 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.