Bank of New York Mellon Corp Grows Position in Samsara Inc. (NYSE:IOT)

Bank of New York Mellon Corp grew its holdings in Samsara Inc. (NYSE:IOT) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 750,408 shares of the company’s stock after acquiring an additional 23,990 shares during the period. Bank of New York Mellon Corp owned about 0.13% of Samsara worth $32,785,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in IOT. Farther Finance Advisors LLC increased its holdings in shares of Samsara by 77.5% in the third 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 last quarter. State of New Jersey Common Pension Fund D increased its stake in Samsara by 2.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 78,287 shares of the company’s stock worth $3,767,000 after acquiring an additional 2,114 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after buying an additional 6,411,178 shares during the period. Rakuten Securities Inc. boosted its position in shares of Samsara by 100.4% during the third quarter. Rakuten Securities Inc. now owns 46,903 shares of the company’s stock valued at $2,257,000 after buying an additional 23,495 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Samsara by 4.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,283 shares of the company’s stock valued at $18,107,000 after buying an additional 16,528 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on IOT. Wells Fargo & Company lowered their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday. 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. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Piper Sandler increased their price target on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, 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. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.60.

Insider Buying and Selling

In other Samsara news, insider Sanjit Biswas sold 56,474 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $43.33, for a total value of $2,447,018.42. Following the completion of the transaction, the insider now owns 116,257 shares in the company, valued at $5,037,415.81. This represents a 32.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following the sale, the insider now owns 331,106 shares of the company’s stock, valued at $17,839,991.28. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,389,912 shares of company stock worth $65,081,064. Corporate insiders own 60.04% of the company’s stock.

Samsara Trading Down 15.7 %

Shares of IOT stock opened at $35.32 on Friday. The firm has a fifty day moving average price of $49.21 and a 200 day moving average price of $48.29. The company has a market cap of $19.82 billion, a P/E ratio of -75.14 and a beta of 1.63. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90.

About Samsara

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.