Nordea Investment Management AB Buys 1,713 Shares of Samsara Inc. (NYSE:IOT)

Nordea Investment Management AB boosted its stake in shares of Samsara Inc. (NYSE:IOT) by 11.9% during the fourth quarter, Holdings Channel reports. The firm owned 16,157 shares of the company’s stock after purchasing an additional 1,713 shares during the quarter. Nordea Investment Management AB’s holdings in Samsara were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IOT. Baillie Gifford & Co. lifted its position in 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 purchasing an additional 6,411,178 shares during the period. Lord Abbett & CO. LLC lifted its position in Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock valued at $90,026,000 after purchasing an additional 1,777,757 shares during the period. FMR LLC lifted its position in Samsara by 15.6% during the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after purchasing an additional 1,604,822 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Samsara by 84.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,608,921 shares of the company’s stock valued at $77,421,000 after buying an additional 734,619 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Samsara by 55.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock valued at $88,013,000 after buying an additional 650,982 shares during the last quarter. Institutional investors own 96.02% of the company’s stock.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 75,594 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the completion of the transaction, the chief executive officer now owns 120,292 shares in the company, valued at $6,723,119.88. This trade represents a 38.59 % 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, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $45.37, for a total transaction of $1,020,825.00. Following the transaction, the director now owns 396,079 shares of the company’s stock, valued at $17,970,104.23. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,281,473 shares of company stock valued at $64,015,165. Corporate insiders own 60.04% of the company’s stock.

Samsara Stock Performance

IOT opened at $43.92 on Monday. The stock has a market capitalization of $24.65 billion, a price-to-earnings ratio of -93.45 and a beta of 1.59. The company has a fifty day moving average of $48.87 and a 200 day moving average of $44.64. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

Wall Street Analysts Forecast Growth

IOT has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Craig Hallum initiated coverage on shares of Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price for the company. Truist Financial upped their target price on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a report on Monday, November 18th. BMO Capital Markets upped their target price on shares of Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a report on Friday, December 6th. Finally, Loop Capital upped their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.29.

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.