Counterpoint Mutual Funds LLC Invests $275,000 in Samsara Inc. (NYSE:IOT)

Counterpoint Mutual Funds LLC acquired a new position in shares of Samsara Inc. (NYSE:IOT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,304 shares of the company’s stock, valued at approximately $275,000.

A number of other hedge funds have also modified their holdings of IOT. Victory Capital Management Inc. increased its stake in shares of Samsara by 12.6% during the 3rd quarter. Victory Capital Management Inc. now owns 67,851 shares of the company’s stock worth $3,265,000 after purchasing an additional 7,613 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Samsara in the 3rd quarter worth approximately $1,180,000. KBC Group NV grew its stake in Samsara by 103.9% in the 3rd quarter. KBC Group NV now owns 24,243 shares of the company’s stock worth $1,167,000 after acquiring an additional 12,356 shares during the period. CIBC Asset Management Inc purchased a new stake in Samsara in the 3rd quarter worth approximately $264,000. Finally, Empowered Funds LLC grew its stake in Samsara by 55.1% in the 3rd quarter. Empowered Funds LLC now owns 9,750 shares of the company’s stock worth $469,000 after acquiring an additional 3,463 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 3,903 shares of Samsara stock in a transaction on Monday, March 10th. The shares were sold at an average price of $34.07, for a total transaction of $132,975.21. Following the sale, the insider now owns 320,936 shares of the company’s stock, valued at $10,934,289.52. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sanjit Biswas sold 13,086 shares of Samsara stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $55.75, for a total transaction of $729,544.50. Following the sale, the insider now directly owns 1,571,848 shares in the company, valued at $87,630,526. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,520,643 shares of company stock worth $67,197,394. 60.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial lowered their target price on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Cowen reaffirmed a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Loop Capital lifted their target price 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. Craig Hallum reiterated a “hold” rating on shares of Samsara in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Nine research 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $49.60.

Samsara Trading Down 2.2 %

NYSE:IOT opened at $38.10 on Wednesday. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of -81.06 and a beta of 1.63. The firm’s fifty day simple moving average is $48.05 and its 200 day simple moving average is $48.15. Samsara Inc. has a twelve month low of $27.14 and a twelve month high of $61.90.

Samsara 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.