Samsara Inc. (NYSE:IOT) Stock Position Lifted by Wells Fargo & Company MN

Wells Fargo & Company MN increased its stake in Samsara Inc. (NYSE:IOT) by 101.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,176 shares of the company’s stock after purchasing an additional 65,028 shares during the quarter. Wells Fargo & Company MN’s holdings in Samsara were worth $5,644,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IOT. Jones Financial Companies Lllp acquired a new stake in shares of Samsara in the fourth quarter valued at $31,000. IFP Advisors Inc grew its holdings in Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after acquiring an additional 598 shares during the period. National Bank of Canada FI bought a new stake in Samsara in the fourth quarter worth about $45,000. UMB Bank n.a. lifted its holdings in Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company’s stock valued at $72,000 after acquiring an additional 635 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Samsara during the 4th quarter valued at about $110,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Analysts Set New Price Targets

IOT has been the topic of a number of research reports. Berenberg Bank initiated coverage on shares of Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price on the stock. Royal Bank of Canada reduced their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Monday, March 10th. Wells Fargo & Company dropped their price target on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.07.

Samsara Stock Down 3.4 %

Shares of NYSE IOT opened at $37.53 on Friday. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The company has a market cap of $21.37 billion, a P/E ratio of -79.85 and a beta of 1.71. The business’s 50 day moving average is $42.55 and its two-hundred day moving average is $46.76.

Insider Buying and Selling

In related news, insider Adam Eltoukhy sold 3,903 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.07, for a total transaction of $132,975.21. Following the transaction, the insider now directly owns 320,936 shares in the company, valued at $10,934,289.52. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sanjit Biswas sold 160,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $34.89, for a total value of $5,582,400.00. Following the completion of the transaction, the insider now directly owns 108,000 shares of the company’s stock, valued at approximately $3,768,120. This trade represents a 59.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,264,146 shares of company stock valued at $53,291,272. 60.04% of the stock is owned by company 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.