Sumitomo Mitsui DS Asset Management Company Ltd Buys 5,410 Shares of Samsara Inc. (NYSE:IOT)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Samsara Inc. (NYSE:IOT) by 37.7% during the 4th quarter, Holdings Channel reports. The fund owned 19,753 shares of the company’s stock after acquiring an additional 5,410 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Samsara were worth $863,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of IOT. Hobbs Group Advisors LLC bought a new position in shares of Samsara during the 3rd quarter worth about $34,000. Continuum Advisory LLC raised its stake in Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares during the period. UMB Bank n.a. boosted its holdings in Samsara by 69.1% in the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after acquiring an additional 418 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Samsara by 250.0% in the third 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 increased its holdings in shares of Samsara by 19.2% during the third 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 in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IOT shares. Royal Bank of Canada increased their target price on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Piper Sandler lifted their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Morgan Stanley upped their target price on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Truist Financial lifted their price target on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. increased their price objective on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.67.

Samsara Stock Performance

Shares of NYSE:IOT opened at $55.26 on Wednesday. The company has a market capitalization of $31.01 billion, a P/E ratio of -117.58 and a beta of 1.61. The company’s 50-day moving average is $47.72 and its 200 day moving average is $46.64. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

Insiders Place Their Bets

In related news, insider Sanjit Biswas sold 56,474 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $43.33, for a total value of $2,447,018.42. Following the sale, the insider now directly owns 116,257 shares in the company, valued at approximately $5,037,415.81. The trade was a 32.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.55, for a total transaction of $461,161.85. Following the transaction, the insider now owns 396,784 shares of the company’s stock, valued at $19,660,647.20. This represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,549,936 shares of company stock valued at $75,624,852. Company insiders own 60.04% of the company’s stock.

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.