Arizona State Retirement System Buys 4,024 Shares of Samsara Inc. (NYSE:IOT)

Arizona State Retirement System boosted its stake in Samsara Inc. (NYSE:IOT) by 6.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,450 shares of the company’s stock after purchasing an additional 4,024 shares during the quarter. Arizona State Retirement System’s holdings in Samsara were worth $2,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Assetmark Inc. purchased a new stake in shares of Samsara during the 4th quarter valued at $433,000. Victory Capital Management Inc. increased its stake in Samsara by 12.7% in the fourth quarter. Victory Capital Management Inc. now owns 76,442 shares of the company’s stock valued at $3,340,000 after acquiring an additional 8,591 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Samsara by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,944 shares of the company’s stock valued at $82,004,000 after purchasing an additional 47,911 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Samsara during the fourth quarter worth about $431,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Samsara in the 4th quarter worth about $31,000. 96.02% of the stock is currently owned by institutional investors.

Samsara Price Performance

Shares of NYSE:IOT opened at $35.32 on Monday. The stock’s 50-day moving average is $49.02 and its 200 day moving average is $48.36. The company has a market cap of $19.82 billion, a PE ratio of -75.14 and a beta of 1.63. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 9,043 shares of the firm’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 sale, the insider now owns 331,106 shares of the company’s stock, valued at $17,839,991.28. This trade represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sanjit Biswas sold 170,416 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $45.30, for a total transaction of $7,719,844.80. Following the transaction, the insider now directly owns 1,175,569 shares in the company, valued at approximately $53,253,275.70. The trade was a 12.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,369,776 shares of company stock worth $64,065,203. 60.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on IOT shares. JPMorgan Chase & Co. raised their price objective on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Raymond James started coverage on shares of Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating on the stock. Wells Fargo & Company cut 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. Piper Sandler lifted their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Morgan Stanley boosted their price target 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. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of “Hold” and an average price target of $49.60.

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.