Geode Capital Management LLC Boosts Stake in Samsara Inc. (NYSE:IOT)

Geode Capital Management LLC raised its position in shares of Samsara Inc. (NYSE:IOT) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,279,383 shares of the company’s stock after buying an additional 196,867 shares during the quarter. Geode Capital Management LLC owned about 0.41% of Samsara worth $109,307,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in IOT. State Street Corp raised its position in shares of Samsara by 4.7% during the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock valued at $102,283,000 after buying an additional 95,006 shares in the last quarter. HighTower Advisors LLC raised its position in Samsara by 193.4% during the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after purchasing an additional 40,833 shares during the period. Swiss National Bank lifted its stake in shares of Samsara by 3.1% in the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after purchasing an additional 18,400 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Samsara by 2,787.2% in the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after purchasing an additional 10,452 shares during the period. Finally, Bank of Montreal Can bought a new position in shares of Samsara during the 2nd quarter valued at approximately $537,000. Institutional investors own 96.02% of the company’s stock.

Insider Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 75,594 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the transaction, the chief executive officer now directly owns 120,292 shares in the company, valued at approximately $6,723,119.88. This trade represents a 38.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Bicket sold 75,600 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $55.89, for a total transaction of $4,225,284.00. Following the completion of the transaction, the insider now directly owns 400,020 shares of the company’s stock, valued at $22,357,117.80. This trade represents a 15.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,439,925 shares of company stock valued at $72,045,428. Company insiders own 60.04% of the company’s stock.

Samsara Price Performance

IOT stock opened at $43.64 on Thursday. Samsara Inc. has a 1-year low of $27.14 and a 1-year high of $57.51. The business has a 50-day moving average price of $50.35 and a 200 day moving average price of $42.90. The company has a market capitalization of $24.28 billion, a P/E ratio of -92.85 and a beta of 1.53.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IOT shares. Truist Financial raised their price target on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Loop Capital lifted their price target on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Evercore ISI upped their price target on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a report on Friday, September 6th. TD Cowen raised their price objective on shares of Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, BNP Paribas initiated coverage on Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price on the stock. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.29.

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.