State of New Jersey Common Pension Fund D Grows Stake in Samsara Inc. (NYSE:IOT)

State of New Jersey Common Pension Fund D raised its stake in shares of Samsara Inc. (NYSE:IOT) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,334 shares of the company’s stock after purchasing an additional 3,047 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Samsara were worth $3,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Hobbs Group Advisors LLC purchased a new stake in Samsara during the 3rd quarter valued at $34,000. Continuum Advisory LLC increased its position in Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after acquiring an additional 247 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after acquiring an additional 250 shares during the period. UMB Bank n.a. lifted its holdings in shares of Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock worth $72,000 after acquiring an additional 635 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Samsara by 77.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $91,000 after purchasing an additional 821 shares during the period. 96.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on IOT shares. Wells Fargo & Company raised their price objective 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. Piper Sandler boosted their price objective on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial increased their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Loop Capital boosted their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, Royal Bank of Canada raised their price target on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.67.

Samsara Price Performance

Shares of NYSE IOT opened at $58.82 on Thursday. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90. The business has a fifty day moving average price of $48.62 and a 200 day moving average price of $47.60. The stock has a market capitalization of $33.01 billion, a P/E ratio of -125.15 and a beta of 1.61.

Insiders Place Their Bets

In other news, 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 transaction of $2,447,018.42. Following the transaction, the insider now directly owns 116,257 shares of the company’s stock, valued at approximately $5,037,415.81. This represents a 32.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Bicket sold 75,600 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $55.89, for a total value of $4,225,284.00. Following the completion of the sale, the insider now directly owns 400,020 shares of the company’s stock, valued at $22,357,117.80. The trade was a 15.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,530,506 shares of company stock worth $75,086,182. 60.04% of the stock is owned by corporate insiders.

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.