APG Asset Management US Inc. Takes $300,000 Position in Samsara Inc. (NYSE:IOT)

APG Asset Management US Inc. acquired a new stake in Samsara Inc. (NYSE:IOT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,877 shares of the company’s stock, valued at approximately $300,000.

A number of other institutional investors also recently made changes to their positions in IOT. FMR LLC boosted its stake in shares of Samsara by 24.0% in the 4th quarter. FMR LLC now owns 14,743,175 shares of the company’s stock valued at $644,129,000 after purchasing an additional 2,852,575 shares in the last quarter. Jordan Park Trust Co LLC purchased a new stake in shares of Samsara in the 4th quarter valued at $112,041,000. Norges Bank purchased a new stake in shares of Samsara in the 4th quarter valued at $106,274,000. Arrowstreet Capital Limited Partnership raised its holdings in Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock valued at $181,045,000 after buying an additional 2,148,081 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Samsara by 1,909.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock valued at $90,026,000 after buying an additional 1,777,757 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Activity at Samsara

In other news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.19, for a total transaction of $10,015,310.89. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 3,903 shares of the firm’s stock in a transaction dated 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 directly owns 320,936 shares in the company, valued at approximately $10,934,289.52. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,484,276 shares of company stock valued at $64,741,770. 60.04% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on IOT. BMO Capital Markets upgraded shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Monday, March 10th. Craig Hallum reiterated a “hold” rating on shares of Samsara in a report on Friday, March 7th. Royal Bank of Canada lowered their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Truist Financial lowered their price target on shares of Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a report on Friday, March 7th. Finally, Cowen restated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.20.

Samsara Price Performance

Shares of Samsara stock opened at $39.49 on Thursday. The company has a 50-day moving average of $44.79 and a 200 day moving average of $47.25. The firm has a market cap of $22.48 billion, a price-to-earnings ratio of -84.02 and a beta of 1.71. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90.

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.