Watts Gwilliam & Co. LLC Takes $361,000 Position in Samsara Inc. (NYSE:IOT)

Watts Gwilliam & Co. LLC acquired a new position in Samsara Inc. (NYSE:IOT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,400 shares of the company’s stock, valued at approximately $361,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IOT. Nordea Investment Management AB lifted its holdings in shares of Samsara by 11.9% in the fourth quarter. Nordea Investment Management AB now owns 16,157 shares of the company’s stock valued at $717,000 after purchasing an additional 1,713 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Samsara in the 4th quarter worth about $242,000. Lord Abbett & CO. LLC boosted its position in Samsara by 1,909.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock worth $90,026,000 after acquiring an additional 1,777,757 shares during the period. Franklin Resources Inc. purchased a new position in Samsara during the 3rd quarter valued at about $10,868,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Samsara in the 3rd quarter valued at about $546,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Stock Up 3.0 %

Shares of IOT stock opened at $44.20 on Friday. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $57.51. The company has a market cap of $24.80 billion, a PE ratio of -94.04 and a beta of 1.59. The business’s 50 day moving average is $48.91 and its two-hundred day moving average is $44.34.

Analysts Set New Price Targets

Several analysts recently commented on IOT shares. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Piper Sandler boosted their price target 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 increased their price objective on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. BMO Capital Markets boosted their target price on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Finally, Truist Financial upped their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Samsara currently has an average rating of “Hold” and an average price target of $51.29.

Insider Buying and Selling

In other news, insider Adam Eltoukhy sold 9,308 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total transaction of $471,357.12. Following the completion of the transaction, the insider now directly owns 396,784 shares in the company, valued at $20,093,141.76. The trade was a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total transaction of $5,160,489.60. The disclosure for this sale can be found here. In the last three months, insiders sold 1,281,473 shares of company stock valued at $64,015,165. Company insiders own 60.04% of the company’s stock.

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.