KLP Kapitalforvaltning AS Buys Shares of 61,700 Samsara Inc. (NYSE:IOT)

KLP Kapitalforvaltning AS bought a new position in shares of Samsara Inc. (NYSE:IOT) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 61,700 shares of the company’s stock, valued at approximately $2,696,000.

A number of other institutional investors and hedge funds also recently modified their holdings of IOT. Jones Financial Companies Lllp bought a new position in Samsara during the 4th quarter worth approximately $31,000. Hobbs Group Advisors LLC bought a new position in shares of Samsara during the third quarter worth $34,000. IFP Advisors Inc grew its holdings in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after buying an additional 598 shares during the period. Continuum Advisory LLC increased 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 valued at $45,000 after buying an additional 247 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in Samsara by 62.1% during the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock worth $72,000 after buying an additional 635 shares during the period. 96.02% of the stock is owned by institutional investors.

Samsara Stock Performance

Shares of NYSE IOT opened at $41.74 on Thursday. The stock has a market capitalization of $23.42 billion, a PE ratio of -88.80 and a beta of 1.63. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $61.90. The stock has a 50 day moving average price of $47.66 and a 200 day moving average price of $48.13.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IOT. JPMorgan Chase & Co. boosted their target price on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Raymond James began coverage on Samsara in a research report on Wednesday, February 26th. They issued a “market perform” rating for the company. Cowen restated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Piper Sandler upgraded 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. Finally, Wells Fargo & Company lowered their price objective 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. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Samsara currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

Insider Activity

In other news, insider Sanjit Biswas sold 59,114 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.25, for a total value of $2,674,908.50. Following the sale, the insider now directly owns 196,678 shares of the company’s stock, valued at approximately $8,899,679.50. This represents a 23.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.19, for a total transaction of $10,015,310.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,513,276 shares of company stock valued at $66,321,273. 60.04% of the stock is owned by insiders.

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.