Y Intercept Hong Kong Ltd Invests $1.01 Million in Samsara Inc. (NYSE:IOT)

Y Intercept Hong Kong Ltd purchased a new position in Samsara Inc. (NYSE:IOT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,077 shares of the company’s stock, valued at approximately $1,008,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Samsara by 16.2% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,800 shares of the company’s stock valued at $2,482,000 after acquiring an additional 7,900 shares during the period. Valliance Asset Management Ltd bought a new stake in shares of Samsara in the 4th quarter worth approximately $1,092,000. Handelsbanken Fonder AB boosted its position in Samsara by 12.8% during the 4th quarter. Handelsbanken Fonder AB now owns 53,000 shares of the company’s stock valued at $2,316,000 after purchasing an additional 6,000 shares during the period. Alberta Investment Management Corp acquired a new position in Samsara during the 4th quarter valued at approximately $3,460,000. Finally, Atria Wealth Solutions Inc. grew its stake in Samsara by 15.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 13,348 shares of the company’s stock worth $583,000 after buying an additional 1,818 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

Insider Buying and Selling at Samsara

In other news, insider John Bicket sold 83,091 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,471,126.71. Following the sale, the insider now directly owns 19,200 shares in the company, valued at approximately $1,033,152. This represents a 81.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Adam Eltoukhy sold 23,960 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $43.81, for a total value of $1,049,687.60. Following the completion of the transaction, the insider now directly owns 331,106 shares of the company’s stock, valued at approximately $14,505,753.86. The trade was a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,410,944 shares of company stock valued at $67,599,835 in the last 90 days. 60.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

IOT has been the topic of a number of recent analyst reports. Raymond James started coverage on Samsara in a report on Wednesday. They set a “market perform” rating on the stock. Wells Fargo & Company lifted their target price on Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. BMO Capital Markets increased their price target on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. Piper Sandler lifted their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Berenberg Bank started coverage on shares of Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Samsara presently has an average rating of “Hold” and a consensus price target of $51.67.

Samsara Trading Down 5.4 %

Shares of NYSE:IOT opened at $47.36 on Friday. The business’s 50 day moving average is $49.27 and its 200-day moving average is $48.10. The firm has a market capitalization of $26.58 billion, a PE ratio of -100.76 and a beta of 1.61. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $61.90.

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.