Swiss National Bank Increases Stock Holdings in Samsara Inc. (NYSE:IOT)

Swiss National Bank lifted its stake in shares of Samsara Inc. (NYSE:IOT) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 617,100 shares of the company’s stock after acquiring an additional 1,500 shares during the period. Swiss National Bank’s holdings in Samsara were worth $26,961,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Prosperity Financial Group Inc. raised its holdings in shares of Samsara by 17.5% during the 4th quarter. Prosperity Financial Group Inc. now owns 17,477 shares of the company’s stock valued at $764,000 after buying an additional 2,599 shares during the period. AGF Management Ltd. increased its holdings in Samsara by 20.5% during the 4th quarter. AGF Management Ltd. now owns 361,427 shares of the company’s stock worth $15,791,000 after purchasing an additional 61,451 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Samsara by 7.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 16,900 shares of the company’s stock worth $738,000 after purchasing an additional 1,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Samsara by 3.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,091 shares of the company’s stock worth $2,276,000 after purchasing an additional 1,672 shares during the last quarter. Finally, Jordan Park Trust Co LLC purchased a new stake in Samsara during the 4th quarter worth approximately $112,041,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Price Performance

NYSE:IOT opened at $38.89 on Tuesday. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The firm has a market capitalization of $21.83 billion, a P/E ratio of -82.75 and a beta of 1.63. The business has a 50 day simple moving average of $48.14 and a 200 day simple moving average of $48.18.

Insider Activity at Samsara

In other Samsara news, insider Adam Eltoukhy sold 3,903 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the completion of the transaction, the insider now owns 320,936 shares in the company, valued at approximately $10,934,289.52. The trade was a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. Insiders sold 1,520,643 shares of company stock worth $67,197,394 in the last 90 days. 60.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Raymond James assumed coverage on Samsara in a report on Wednesday, February 26th. They set a “market perform” rating on the stock. Wells Fargo & Company dropped 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. Berenberg Bank assumed coverage on Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective on the stock. 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. Finally, JPMorgan Chase & Co. boosted their price target on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Samsara currently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

About Samsara

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.