Sit Investment Associates Inc. Invests $3.47 Million in Samsara Inc. (NYSE:IOT)

Sit Investment Associates Inc. purchased a new position in Samsara Inc. (NYSE:IOT) in the 4th quarter, Holdings Channel.com reports. The firm purchased 79,400 shares of the company’s stock, valued at approximately $3,469,000.

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

Wall Street Analysts Forecast Growth

IOT has been the subject of several analyst reports. Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target for the company in a report on Monday, March 10th. BMO Capital Markets upgraded 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 note on Monday, March 10th. Wells Fargo & Company dropped their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Cowen reissued a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Finally, Raymond James began coverage on Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.60.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $53.88, for a total value of $487,236.84. Following the sale, the insider now directly owns 331,106 shares in the company, valued at $17,839,991.28. This trade represents a 2.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dominic Phillips sold 21,157 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total transaction of $811,794.09. Following the transaction, the insider now owns 638,642 shares of the company’s stock, valued at approximately $24,504,693.54. This represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,569,339 shares of company stock worth $68,470,932 in the last three months. Insiders own 60.04% of the company’s stock.

Samsara Stock Performance

Shares of IOT stock opened at $33.51 on Monday. The firm’s 50 day moving average price is $46.30 and its two-hundred day moving average price is $47.67. The stock has a market cap of $19.08 billion, a PE ratio of -71.30 and a beta of 1.71. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90.

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.