Forsta AP Fonden Takes $4.98 Million Position in Samsara Inc. (NYSE:IOT)

Forsta AP Fonden purchased a new position in Samsara Inc. (NYSE:IOT) during the fourth quarter, HoldingsChannel reports. The firm purchased 113,900 shares of the company’s stock, valued at approximately $4,976,000.

A number of other institutional investors have also recently made changes to their positions in IOT. Hobbs Group Advisors LLC purchased a new position in shares of Samsara in the third quarter worth $34,000. Continuum Advisory LLC increased its holdings in Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares in the last quarter. UMB Bank n.a. raised its position in Samsara by 69.1% in the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after acquiring an additional 1,000 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Samsara by 19.2% during the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after acquiring an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sanjit Biswas sold 64,188 shares of Samsara stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the completion of the sale, the chief executive officer now owns 41,272 shares of the company’s stock, valued at approximately $1,959,594.56. The trade was a 60.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.55, for a total value of $461,161.85. Following the completion of the transaction, the insider now directly owns 396,784 shares in the company, valued at approximately $19,660,647.20. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,657,460 shares of company stock valued at $80,657,496. Insiders own 60.04% of the company’s stock.

Samsara Price Performance

Shares of NYSE IOT opened at $51.38 on Friday. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $57.51. The firm has a 50-day simple moving average of $47.90 and a two-hundred day simple moving average of $45.71. The company has a market cap of $28.83 billion, a P/E ratio of -109.31 and a beta of 1.59.

Analysts Set New Price Targets

IOT has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada raised their price objective on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Loop Capital lifted their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. BNP Paribas initiated coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price objective on the stock. Finally, Wells Fargo & Company boosted their target price on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.29.

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.