Alberta Investment Management Corp Makes New $3.46 Million Investment in Samsara Inc. (NYSE:IOT)

Alberta Investment Management Corp acquired a new stake in Samsara Inc. (NYSE:IOT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 79,200 shares of the company’s stock, valued at approximately $3,460,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Baillie Gifford & Co. raised its holdings in Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after buying an additional 6,411,178 shares during the period. FMR LLC increased its position in Samsara by 15.6% during the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after acquiring an additional 1,604,822 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Samsara by 4.1% in the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after acquiring an additional 138,702 shares during the period. Geode Capital Management LLC raised its stake in shares of Samsara by 9.5% in the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock valued at $109,307,000 after acquiring an additional 196,867 shares during the period. Finally, State Street Corp lifted its holdings in shares of Samsara by 4.7% in the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after acquiring an additional 95,006 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IOT. Berenberg Bank assumed coverage on shares of Samsara in a report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target on the stock. Truist Financial upped their target price on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. BMO Capital Markets boosted their price objective on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company increased their target price on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.67.

Samsara Trading Down 7.0 %

IOT opened at $54.73 on Friday. The business’s fifty day simple moving average is $48.79 and its 200-day simple moving average is $47.65. The company has a market capitalization of $30.71 billion, a price-to-earnings ratio of -116.44 and a beta of 1.61. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90.

Insiders Place Their Bets

In related news, insider John Bicket sold 75,600 shares of Samsara stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $55.89, for a total transaction of $4,225,284.00. Following the transaction, the insider now directly owns 400,020 shares of the company’s stock, valued at $22,357,117.80. This trade represents a 15.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sanjit Biswas sold 56,474 shares of the company’s stock in a transaction on 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 owns 116,257 shares of the company’s stock, valued at approximately $5,037,415.81. This represents a 32.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,530,506 shares of company stock worth $75,086,182 in the last three months. Corporate 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.