Andar Capital Management HK Ltd Takes Position in Samsara Inc. (NYSE:IOT)

Andar Capital Management HK Ltd bought a new stake in Samsara Inc. (NYSE:IOT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 70,000 shares of the company’s stock, valued at approximately $3,058,000. Samsara comprises 3.9% of Andar Capital Management HK Ltd’s investment portfolio, making the stock its 10th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Xponance Inc. grew its position in shares of Samsara by 38.9% in the fourth quarter. Xponance Inc. now owns 13,356 shares of the company’s stock valued at $584,000 after purchasing an additional 3,742 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Samsara in the fourth quarter valued at approximately $275,000. GLOBALT Investments LLC GA grew its position 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 purchasing an additional 182 shares during the last quarter. Choate Investment Advisors grew its position in Samsara by 67.8% during the fourth quarter. Choate Investment Advisors now owns 11,777 shares of the company’s stock worth $515,000 after buying an additional 4,757 shares in the last quarter. Finally, Left Brain Wealth Management LLC acquired a new stake in Samsara during the fourth quarter worth approximately $306,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Wall Street Analyst Weigh In

IOT has been the topic of a number of analyst reports. Royal Bank of Canada reduced their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Raymond James initiated coverage on Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating on the stock. Loop Capital increased their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Cowen reissued a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Finally, Truist Financial reduced their target price on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.60.

Samsara Stock Performance

Shares of IOT opened at $38.10 on Wednesday. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90. The stock has a market capitalization of $21.38 billion, a price-to-earnings ratio of -81.06 and a beta of 1.63. The stock has a fifty day moving average of $48.05 and a 200-day moving average of $48.15.

Insider Activity

In other news, insider Adam Eltoukhy sold 23,960 shares of the stock in a transaction 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 transaction, the insider now directly owns 331,106 shares in the company, valued at approximately $14,505,753.86. This represents a 6.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,520,643 shares of company stock worth $67,197,394. 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.