Y Intercept Hong Kong Ltd Acquires Shares of 23,077 Samsara Inc. (NYSE:IOT)

Y Intercept Hong Kong Ltd bought a new position in shares of Samsara Inc. (NYSE:IOT) during the fourth quarter, Holdings Channel.com reports. The firm bought 23,077 shares of the company’s stock, valued at approximately $1,008,000.

Several other hedge funds have also modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Samsara by 16.2% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,800 shares of the company’s stock valued at $2,482,000 after buying an additional 7,900 shares during the period. Valliance Asset Management Ltd bought a new position in Samsara in the fourth quarter valued at about $1,092,000. Handelsbanken Fonder AB increased its position in Samsara by 12.8% in the fourth quarter. Handelsbanken Fonder AB now owns 53,000 shares of the company’s stock worth $2,316,000 after purchasing an additional 6,000 shares during the period. Alberta Investment Management Corp bought a new stake in Samsara during the 4th quarter worth about $3,460,000. Finally, Atria Wealth Solutions Inc. lifted its position in Samsara by 15.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 13,348 shares of the company’s stock valued at $583,000 after purchasing an additional 1,818 shares during the period. 96.02% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on IOT. JPMorgan Chase & Co. raised their price objective on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. BMO Capital Markets raised their price target on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Piper Sandler upped their price objective on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Loop Capital raised their target price on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Finally, Morgan Stanley upped their price target on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.67.

Insider Activity

In other Samsara news, insider Sanjit Biswas sold 118,589 shares of Samsara stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $49.15, for a total transaction of $5,828,649.35. Following the transaction, the insider now directly owns 126,000 shares of the company’s stock, valued at approximately $6,192,900. The trade was a 48.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Bicket sold 83,091 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $53.81, for a total value of $4,471,126.71. Following the completion of the sale, the insider now owns 19,200 shares in the company, valued at $1,033,152. The trade was a 81.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,410,944 shares of company stock worth $67,599,835. Insiders own 60.04% of the company’s stock.

Samsara Stock Performance

Shares of IOT opened at $47.36 on Friday. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The firm has a market cap of $26.58 billion, a price-to-earnings ratio of -100.76 and a beta of 1.61. The business’s fifty day moving average is $49.27 and its 200-day moving average is $48.10.

Samsara 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.