Arkadios Wealth Advisors Raises Position in Samsara Inc. (NYSE:IOT)

Arkadios Wealth Advisors increased its holdings in Samsara Inc. (NYSE:IOT) by 38.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 36,350 shares of the company’s stock after acquiring an additional 10,000 shares during the quarter. Arkadios Wealth Advisors’ holdings in Samsara were worth $1,588,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Continuum Advisory LLC increased its position in shares of Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after acquiring an additional 247 shares during the period. Private Trust Co. NA increased its position in shares of Samsara by 19.2% in the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after acquiring an additional 250 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Samsara by 3.5% in the third quarter. Assenagon Asset Management S.A. now owns 9,001 shares of the company’s stock valued at $433,000 after acquiring an additional 304 shares during the period. Wellington Management Group LLP increased its position in shares of Samsara by 5.1% in the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock valued at $383,000 after acquiring an additional 388 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after buying an additional 418 shares during the period. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IOT. BMO Capital Markets boosted their price target on shares of Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research report on Friday, December 6th. Royal Bank of Canada boosted their price target on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. BNP Paribas began coverage on shares of Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. Morgan Stanley boosted their price target on shares of Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.29.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.55, for a total transaction of $461,161.85. Following the transaction, the insider now owns 396,784 shares in the company, valued at $19,660,647.20. This represents a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjit Biswas sold 56,474 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $43.33, for a total transaction of $2,447,018.42. Following the transaction, the insider now owns 116,257 shares in the company, valued at approximately $5,037,415.81. This trade represents a 32.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,606,542 shares of company stock worth $77,988,715. Corporate insiders own 60.04% of the company’s stock.

Samsara Stock Performance

Shares of NYSE IOT opened at $46.75 on Friday. The firm’s 50 day moving average price is $48.40 and its 200-day moving average price is $44.88. The company has a market cap of $26.24 billion, a PE ratio of -99.48 and a beta of 1.59. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $57.51.

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.