Westpac Banking Corp Invests $314,000 in Samsara Inc. (NYSE:IOT)

Westpac Banking Corp acquired a new stake in Samsara Inc. (NYSE:IOT) during the fourth quarter, HoldingsChannel reports. The fund acquired 7,196 shares of the company’s stock, valued at approximately $314,000.

Several other institutional investors also recently bought and sold shares of IOT. Cinctive Capital Management LP purchased a new stake in shares of Samsara in the fourth quarter valued at about $9,617,000. Bryce Point Capital LLC acquired a new position in Samsara during the 4th quarter worth approximately $531,000. Trexquant Investment LP purchased a new position in shares of Samsara during the 4th quarter worth approximately $1,506,000. Geode Capital Management LLC lifted its holdings in shares of Samsara by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 2,371,071 shares of the company’s stock valued at $103,315,000 after buying an additional 91,688 shares during the period. Finally, Nemes Rush Group LLC purchased a new stake in shares of Samsara in the fourth quarter valued at approximately $146,000. 96.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on IOT shares. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a report on Monday, March 10th. Truist Financial decreased their price objective on shares of Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. increased their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company decreased their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, Berenberg Bank began coverage on Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Samsara presently has an average rating of “Moderate Buy” and a consensus target price of $49.60.

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 9,043 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total value of $487,236.84. Following the completion of the transaction, the insider now directly owns 331,106 shares in the company, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.72, for a total value of $871,200.00. Following the transaction, the director now owns 373,579 shares in the company, valued at $14,464,978.88. This trade represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,628,453 shares of company stock valued at $71,145,841. Company insiders own 60.04% of the company’s stock.

Samsara Price Performance

Samsara stock opened at $33.51 on Friday. The stock has a market capitalization of $18.81 billion, a P/E ratio of -71.30 and a beta of 1.63. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $61.90. The firm’s 50-day moving average is $46.30 and its two-hundred day moving average is $47.67.

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.