KLP Kapitalforvaltning AS Makes New $2.70 Million Investment in Samsara Inc. (NYSE:IOT)

KLP Kapitalforvaltning AS acquired a new stake in Samsara Inc. (NYSE:IOT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,700 shares of the company’s stock, valued at approximately $2,696,000.

A number of other hedge funds also recently modified their holdings of IOT. Connor Clark & Lunn Investment Management Ltd. bought a new position in Samsara in the 3rd quarter valued at about $697,000. Intech Investment Management LLC bought a new position in shares of Samsara during the third quarter worth approximately $644,000. Charles Schwab Investment Management Inc. lifted its holdings in Samsara by 55.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock worth $88,013,000 after purchasing an additional 650,982 shares during the last quarter. Swedbank AB grew its holdings in Samsara by 288.9% in the 3rd quarter. Swedbank AB now owns 12,080 shares of the company’s stock valued at $581,000 after buying an additional 8,974 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Samsara by 12.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,800 shares of the company’s stock valued at $760,000 after buying an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Trading Down 2.0 %

IOT opened at $41.74 on Thursday. The company has a market cap of $23.42 billion, a P/E ratio of -88.80 and a beta of 1.63. The company’s 50 day moving average is $47.66 and its 200-day moving average is $48.13. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

Insider Buying and Selling at Samsara

In related news, insider Sanjit Biswas sold 59,114 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $45.25, for a total transaction of $2,674,908.50. Following the sale, the insider now owns 196,678 shares of the company’s stock, valued at $8,899,679.50. This trade represents a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction 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. Insiders have sold 1,513,276 shares of company stock worth $66,321,273 over the last quarter. Corporate insiders own 60.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Monday, March 10th. Cowen restated a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Royal Bank of Canada dropped their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Truist Financial cut their price target on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, March 7th. Finally, Wells Fargo & Company lowered their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.60.

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.