Westpac Banking Corp Purchases Shares of 7,196 Samsara Inc. (NYSE:IOT)

Westpac Banking Corp acquired a new position in Samsara Inc. (NYSE:IOT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,196 shares of the company’s stock, valued at approximately $314,000.

A number of other hedge funds have also recently made changes to their positions in the stock. GLOBALT Investments LLC GA lifted its stake in Samsara by 0.3% during the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock worth $2,444,000 after purchasing an additional 182 shares in the last quarter. Continuum Advisory LLC raised its holdings 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 buying an additional 247 shares during the period. CIBC Asset Management Inc lifted its stake in Samsara by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after acquiring an additional 300 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Samsara by 5.1% during the 3rd 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, abrdn plc grew its position in Samsara by 11.6% in the 4th quarter. abrdn plc now owns 4,792 shares of the company’s stock valued at $210,000 after acquiring an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Buying and Selling at Samsara

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.19, for a total value of $10,015,310.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjit Biswas sold 59,114 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $45.25, for a total transaction of $2,674,908.50. Following the transaction, the insider now owns 196,678 shares in the company, valued at approximately $8,899,679.50. This trade represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,628,453 shares of company stock worth $71,145,841 over the last 90 days. Corporate insiders own 60.04% of the company’s stock.

Wall Street Analysts Forecast Growth

IOT has been the subject of several recent research reports. Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price objective for the company in a research note on Monday, March 10th. Wells Fargo & Company decreased their price target on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Truist Financial cut their price objective on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, March 7th. Cowen reiterated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Finally, Royal Bank of Canada cut their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Samsara currently has a consensus rating of “Moderate Buy” and an average price target of $49.60.

Samsara Trading Down 1.8 %

Shares of Samsara stock opened at $33.51 on Friday. The company has a fifty day simple moving average of $46.30 and a 200-day simple moving average of $47.67. The stock has a market cap of $18.81 billion, a price-to-earnings 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.

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.