Alberta Investment Management Corp Buys Shares of 79,200 Samsara Inc. (NYSE:IOT)

Alberta Investment Management Corp purchased a new stake in shares of Samsara Inc. (NYSE:IOT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 79,200 shares of the company’s stock, valued at approximately $3,460,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IOT. International Assets Investment Management LLC boosted its holdings in shares of Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after buying an additional 10,452 shares during the last quarter. Grassi Investment Management bought a new position in Samsara in the third quarter worth approximately $207,000. Assenagon Asset Management S.A. boosted its stake in shares of Samsara by 3.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock worth $433,000 after acquiring an additional 304 shares during the last quarter. Zweig DiMenna Associates LLC bought a new stake in shares of Samsara during the 3rd quarter valued at $4,956,000. Finally, Consolidated Portfolio Review Corp purchased a new stake in shares of Samsara in the 3rd quarter worth $1,291,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Transactions at Samsara

In other Samsara news, CEO Sanjit Biswas sold 75,594 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the completion of the transaction, the chief executive officer now owns 120,292 shares in the company, valued at $6,723,119.88. This trade represents a 38.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam Eltoukhy sold 23,960 shares of Samsara stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $43.81, for a total value of $1,049,687.60. Following the completion of the sale, the insider now directly owns 331,106 shares in the company, valued at approximately $14,505,753.86. The trade was a 6.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,530,506 shares of company stock valued at $75,086,182. 60.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IOT. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Loop Capital lifted their price objective on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price objective on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company raised their target price on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Piper Sandler upped their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.67.

Samsara Stock Performance

Shares of NYSE IOT opened at $54.73 on Friday. The firm’s fifty day moving average is $48.79 and its two-hundred day moving average is $47.65. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The company has a market cap of $30.71 billion, a P/E ratio of -116.44 and a beta of 1.61.

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.