State of New Jersey Common Pension Fund D Raises Stock Holdings in Samsara Inc. (NYSE:IOT)

State of New Jersey Common Pension Fund D raised its position in shares of Samsara Inc. (NYSE:IOT) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,334 shares of the company’s stock after purchasing an additional 3,047 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Samsara were worth $3,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IOT. Hobbs Group Advisors LLC purchased a new stake in Samsara in the third quarter valued at approximately $34,000. Continuum Advisory LLC boosted its holdings in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after acquiring an additional 247 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Samsara by 62.1% in the fourth quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock worth $72,000 after acquiring an additional 635 shares during the period. Private Trust Co. NA raised 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 worth $75,000 after purchasing an additional 250 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Samsara by 77.5% during the third quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock valued at $91,000 after purchasing an additional 821 shares during the period. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IOT. Morgan Stanley lifted their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price target on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Loop Capital raised their price objective on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Wells Fargo & Company boosted their target price on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Samsara currently has a consensus rating of “Hold” and a consensus price target of $51.67.

Samsara Stock Performance

Shares of IOT opened at $58.82 on Thursday. The stock has a 50 day moving average price of $48.62 and a 200 day moving average price of $47.60. The stock has a market capitalization of $33.01 billion, a price-to-earnings ratio of -125.15 and a beta of 1.61. Samsara Inc. has a one year low of $27.14 and a one year high of $61.90.

Insider Transactions at Samsara

In other news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjit Biswas sold 13,086 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the completion of the sale, the insider now owns 1,571,848 shares of the company’s stock, valued at $87,630,526. This trade represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,530,506 shares of company stock valued at $75,086,182 over the last 90 days. 60.04% of the stock is currently owned by corporate 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.