US Bancorp DE Boosts Stock Position in Samsara Inc. (NYSE:IOT)

US Bancorp DE lifted its holdings in Samsara Inc. (NYSE:IOT) by 71.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,283 shares of the company’s stock after purchasing an additional 2,199 shares during the quarter. US Bancorp DE’s holdings in Samsara were worth $231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hobbs Group Advisors LLC purchased a new position in shares of Samsara in the third quarter valued at $34,000. IFP Advisors Inc boosted its stake in Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after buying an additional 598 shares during the period. Continuum Advisory LLC boosted its stake in Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares during the period. Private Trust Co. NA boosted its stake in Samsara by 19.2% during the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after buying an additional 250 shares during the period. Finally, UMB Bank n.a. boosted its stake in Samsara by 62.1% during the fourth quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock worth $72,000 after buying an additional 635 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Samsara Stock Up 2.1 %

IOT stock opened at $37.91 on Friday. The business has a 50 day moving average price of $48.26 and a 200 day moving average price of $48.10. The stock has a market cap of $21.28 billion, a price-to-earnings ratio of -80.67 and a beta of 1.63. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90.

Insider Buying and Selling at Samsara

In other news, insider Adam Eltoukhy sold 3,903 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the completion of the sale, the insider now owns 320,936 shares in the company, valued at $10,934,289.52. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was 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. Over the last quarter, insiders sold 1,585,272 shares of company stock worth $70,167,096. 60.04% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. BMO Capital Markets raised shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a research note on Monday. Wells Fargo & Company dropped their price objective on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Royal Bank of Canada dropped their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Finally, Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price for the company in a research note on Monday, March 10th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.60.

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.