Oak Ridge Investments LLC Acquires New Position in Samsara Inc. (NYSE:IOT)

Oak Ridge Investments LLC bought a new position in shares of Samsara Inc. (NYSE:IOT) during the 4th quarter, Holdings Channel.com reports. The fund bought 10,452 shares of the company’s stock, valued at approximately $457,000.

A number of other large investors have also modified their holdings of IOT. Resources Management Corp CT ADV boosted its stake in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara during the 3rd quarter worth $34,000. Nemes Rush Group LLC acquired a new position in shares of Samsara during the 2nd quarter worth $45,000. Continuum Advisory LLC increased 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 purchasing an additional 247 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Samsara by 69.1% in the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after purchasing an additional 418 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Samsara

In other Samsara news, Director Jonathan Chadwick sold 22,500 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $45.37, for a total value of $1,020,825.00. Following the sale, the director now directly owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. This trade represents a 5.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $47.09, for a total transaction of $4,520,640.00. Following the transaction, the chief executive officer now directly owns 483,886 shares of the company’s stock, valued at approximately $22,786,191.74. This represents a 16.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,606,542 shares of company stock worth $77,988,715. Insiders own 60.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on IOT shares. JPMorgan Chase & Co. increased their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial raised their price objective on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. BNP Paribas assumed coverage on Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. BMO Capital Markets raised their price target on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada lifted their price target on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Nine 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, the company currently has a consensus rating of “Hold” and an average price target of $51.29.

Samsara Stock Performance

Shares of IOT opened at $46.75 on Monday. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $57.51. The company’s 50 day simple moving average is $48.40 and its 200 day simple moving average is $44.95. The company has a market capitalization of $26.24 billion, a price-to-earnings ratio of -99.48 and a beta of 1.59.

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.