Vestmark Advisory Solutions Inc. Boosts Position in Samsara Inc. (NYSE:IOT)

Vestmark Advisory Solutions Inc. raised its stake in shares of Samsara Inc. (NYSE:IOT) by 85.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,486 shares of the company’s stock after buying an additional 4,824 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Samsara were worth $458,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of Samsara during the fourth quarter worth about $2,634,000. Arizona State Retirement System grew its holdings in shares of Samsara by 6.8% during the fourth quarter. Arizona State Retirement System now owns 63,450 shares of the company’s stock worth $2,772,000 after purchasing an additional 4,024 shares in the last quarter. Assetmark Inc. purchased a new position in shares of Samsara during the fourth quarter worth about $433,000. Victory Capital Management Inc. grew its holdings in shares of Samsara by 12.7% during the fourth quarter. Victory Capital Management Inc. now owns 76,442 shares of the company’s stock worth $3,340,000 after purchasing an additional 8,591 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Samsara by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock worth $82,004,000 after purchasing an additional 47,911 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Stock Performance

Shares of IOT stock opened at $35.32 on Friday. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90. The stock has a 50 day moving average price of $49.02 and a two-hundred day moving average price of $48.31. The company has a market capitalization of $19.82 billion, a P/E ratio of -75.14 and a beta of 1.63.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday. Loop Capital boosted their price objective on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. BMO Capital Markets cut their price objective on Samsara from $57.00 to $48.00 and set a “market perform” rating for the company in a report on Friday. Piper Sandler upped their target price on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Berenberg Bank assumed coverage on Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.60.

Insider Buying and Selling at Samsara

In related news, Director Jonathan Chadwick sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $45.37, for a total transaction of $1,020,825.00. Following the completion of the transaction, the director now owns 396,079 shares in the company, valued at $17,970,104.23. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 9,043 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the transaction, the insider now owns 331,106 shares of the company’s stock, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,389,912 shares of company stock worth $65,081,064. 60.04% of the stock is currently owned by insiders.

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.