Mitsubishi UFJ Asset Management Co. Ltd. Acquires 23,687 Shares of Samsara Inc. (NYSE:IOT)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Samsara Inc. (NYSE:IOT) by 9.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 278,012 shares of the company’s stock after buying an additional 23,687 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Samsara were worth $12,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of Samsara by 14.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,723 shares of the company’s stock worth $2,296,000 after acquiring an additional 5,897 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Samsara by 13.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 50,419 shares of the company’s stock worth $2,426,000 after purchasing an additional 5,921 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Samsara by 16.7% during the third quarter. Captrust Financial Advisors now owns 10,240 shares of the company’s stock valued at $493,000 after buying an additional 1,463 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Samsara by 366.8% in the 3rd quarter. Verition Fund Management LLC now owns 57,292 shares of the company’s stock valued at $2,757,000 after buying an additional 45,018 shares in the last quarter. Finally, Fred Alger Management LLC grew its position in shares of Samsara by 314.2% in the 3rd quarter. Fred Alger Management LLC now owns 14,389 shares of the company’s stock worth $692,000 after buying an additional 10,915 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Price Performance

NYSE IOT opened at $38.34 on Tuesday. The company has a fifty day moving average of $47.23 and a 200 day moving average of $47.99. The company has a market capitalization of $21.52 billion, a PE ratio of -81.57 and a beta of 1.63. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90.

Insider Activity

In other news, insider Adam Eltoukhy sold 9,043 shares of Samsara stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $53.88, for a total transaction of $487,236.84. Following the completion of the transaction, the insider now directly owns 331,106 shares of the company’s stock, valued at $17,839,991.28. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.72, for a total transaction of $871,200.00. Following the sale, the director now directly owns 373,579 shares in the company, valued at $14,464,978.88. This trade represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,607,296 shares of company stock valued at $70,334,047 in the last quarter. 60.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IOT has been the subject of several recent analyst reports. Raymond James initiated coverage on shares of Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Berenberg Bank assumed coverage on Samsara in a research report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price objective for the company. Truist Financial reduced their target price on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company lowered their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Royal Bank of Canada cut their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.60.

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.