Swedbank AB Increases Stock Position in Samsara Inc. (NYSE:IOT)

Swedbank AB grew its position in shares of Samsara Inc. (NYSE:IOT) by 76.6% in the fourth quarter, HoldingsChannel reports. The firm owned 21,328 shares of the company’s stock after buying an additional 9,248 shares during the quarter. Swedbank AB’s holdings in Samsara were worth $932,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in Samsara during the 3rd quarter valued at approximately $34,000. Continuum Advisory LLC grew its holdings 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 purchasing an additional 247 shares in the last quarter. UMB Bank n.a. increased its position in Samsara by 69.1% in the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after purchasing an additional 418 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Samsara by 19.2% during the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock valued at $75,000 after purchasing an additional 250 shares during the last quarter. 96.02% of the stock is owned by institutional investors.

Samsara Stock Performance

Shares of NYSE IOT opened at $51.38 on Monday. The stock has a 50 day moving average price of $47.80 and a 200 day moving average price of $45.85. The firm has a market capitalization of $28.83 billion, a price-to-earnings ratio of -109.31 and a beta of 1.59. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $57.51.

Analyst Ratings Changes

Several analysts have recently issued reports on IOT shares. Loop Capital upped their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. BMO Capital Markets raised their price objective on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. TD Cowen boosted their target price on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Royal Bank of Canada lifted their price objective on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Truist Financial increased their target price on shares of Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.29.

Insiders Place Their Bets

In other news, insider Adam Eltoukhy sold 9,307 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.55, for a total value of $461,161.85. Following the completion of the sale, the insider now owns 396,784 shares of the company’s stock, valued at approximately $19,660,647.20. This represents a 2.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjit Biswas sold 64,188 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $47.48, for a total transaction of $3,047,646.24. Following the transaction, the chief executive officer now owns 41,272 shares in the company, valued at approximately $1,959,594.56. This represents a 60.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,657,460 shares of company stock worth $80,657,496. 60.04% of the stock is currently owned by company insiders.

About Samsara

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.