Pitcairn Co. Buys 4,074 Shares of Samsara Inc. (NYSE:IOT)

Pitcairn Co. raised its position in shares of Samsara Inc. (NYSE:IOT) by 31.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,106 shares of the company’s stock after purchasing an additional 4,074 shares during the quarter. Pitcairn Co.’s holdings in Samsara were worth $747,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Samsara in the 4th quarter valued at $31,000. Hobbs Group Advisors LLC bought a new stake in Samsara during the third quarter valued at $34,000. IFP Advisors Inc grew its holdings in Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after acquiring an additional 598 shares during the period. Continuum Advisory LLC raised its position in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after acquiring an additional 247 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in shares of Samsara in the 4th quarter valued at about $45,000. Institutional investors own 96.02% of the company’s stock.

Insider Buying and Selling

In related news, insider Adam Eltoukhy sold 3,903 shares of Samsara stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the sale, the insider now owns 320,936 shares of the company’s stock, valued at $10,934,289.52. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the stock in a transaction dated Monday, March 10th. The shares were 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. In the last ninety days, insiders sold 1,628,453 shares of company stock worth $71,145,841. 60.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IOT shares. Truist Financial lowered their target price on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a report on Friday, March 7th. Berenberg Bank assumed coverage on shares of Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price on the stock. Piper Sandler raised Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price for the company in a report on Monday, March 10th. Raymond James initiated coverage on Samsara in a report on Wednesday, February 26th. They set a “market perform” rating on the stock. Finally, Wells Fargo & Company cut their price objective on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Samsara presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

Samsara Price Performance

IOT 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 1-year low of $27.14 and a 1-year high of $61.90. The business has a fifty day moving average price of $46.30 and a 200-day moving average price of $47.67.

Samsara Company 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.