APG Asset Management US Inc. Makes New Investment in Samsara Inc. (NYSE:IOT)

APG Asset Management US Inc. bought a new stake in shares of Samsara Inc. (NYSE:IOT) in the fourth quarter, Holdings Channel.com reports. The fund bought 6,877 shares of the company’s stock, valued at approximately $300,000.

A number of other large investors have also recently made changes to their positions in the stock. GLOBALT Investments LLC GA raised its holdings in shares of Samsara by 0.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after acquiring an additional 182 shares in the last quarter. Continuum Advisory LLC raised its holdings in Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after purchasing an additional 247 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Samsara by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after purchasing an additional 300 shares in the last quarter. Wellington Management Group LLP raised its holdings in Samsara by 5.1% in the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock worth $383,000 after purchasing an additional 388 shares in the last quarter. Finally, abrdn plc raised its holdings in Samsara by 11.6% in the fourth quarter. abrdn plc now owns 4,792 shares of the company’s stock worth $210,000 after purchasing an additional 498 shares in the last quarter. 96.02% of the stock is owned by hedge funds and other institutional investors.

Samsara Stock Up 15.6 %

Shares of NYSE IOT opened at $39.49 on Thursday. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90. The business’s 50 day moving average price is $44.79 and its 200 day moving average price is $47.25. The firm has a market cap of $22.48 billion, a P/E ratio of -84.02 and a beta of 1.71.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IOT. Piper Sandler reduced their target price on shares of Samsara from $50.00 to $44.00 and set an “overweight” rating for the company in a report on Tuesday. Royal Bank of Canada reduced their target price on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Raymond James assumed coverage on shares of Samsara in a report on Wednesday, February 26th. They set a “market perform” rating on the stock. Wells Fargo & Company cut their price objective on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, Craig Hallum restated a “hold” rating on shares of Samsara in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.20.

Insiders Place Their Bets

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Adam Eltoukhy sold 3,903 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the transaction, the insider now directly owns 320,936 shares of the company’s stock, valued at approximately $10,934,289.52. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,484,276 shares of company stock worth $64,741,770. Corporate 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.