Samsara Inc. (NYSE:IOT) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its position in shares of Samsara Inc. (NYSE:IOT) by 57.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 533,800 shares of the company’s stock after acquiring an additional 193,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Samsara were worth $23,322,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in IOT. GLOBALT Investments LLC GA boosted its position in Samsara by 0.3% in the fourth quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after buying an additional 182 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Samsara by 5.5% in the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after acquiring an additional 300 shares during the period. Wellington Management Group LLP raised its holdings in shares of Samsara by 5.1% during the third quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock worth $383,000 after purchasing an additional 388 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after purchasing an additional 414 shares during the last quarter. Finally, abrdn plc boosted its holdings in Samsara by 11.6% in the fourth quarter. abrdn plc now owns 4,792 shares of the company’s stock valued at $210,000 after purchasing an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Transactions at Samsara

In other news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $53.88, for a total transaction of $487,236.84. Following the completion of the sale, the insider now owns 331,106 shares in the company, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.19, for a total value of $10,015,310.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,264,146 shares of company stock valued at $53,291,272. 60.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on IOT shares. Royal Bank of Canada reduced their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Cowen reissued a “buy” rating on shares of Samsara in a report on Friday, March 7th. Berenberg Bank started coverage on shares of Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective on the stock. Raymond James assumed coverage on shares of Samsara in a report on Wednesday, February 26th. They set a “market perform” rating for the company. Finally, Piper Sandler lowered their price target on shares of Samsara from $50.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.07.

Samsara Stock Performance

IOT stock opened at $37.53 on Friday. The company’s 50 day moving average price is $42.55 and its 200 day moving average price is $46.76. The firm has a market capitalization of $21.37 billion, a price-to-earnings ratio of -79.85 and a beta of 1.71. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $61.90.

Samsara Company 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.