Entropy Technologies LP Takes Position in Samsara Inc. (NYSE:IOT)

Entropy Technologies LP acquired a new position in shares of Samsara Inc. (NYSE:IOT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 34,820 shares of the company’s stock, valued at approximately $1,521,000.

A number of other institutional investors have also modified their holdings of IOT. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Samsara by 37.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,753 shares of the company’s stock worth $863,000 after acquiring an additional 5,410 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Samsara by 22.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 459,416 shares of the company’s stock valued at $20,072,000 after purchasing an additional 83,133 shares during the last quarter. abrdn plc lifted its stake 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 buying an additional 498 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Samsara by 13,426.9% in the fourth quarter. Jennison Associates LLC now owns 593,562 shares of the company’s stock valued at $25,933,000 after acquiring an additional 589,174 shares during the period. Finally, Spire Wealth Management grew its position in shares of Samsara by 58.8% during the fourth quarter. Spire Wealth Management now owns 13,335 shares of the company’s stock worth $583,000 after acquiring an additional 4,935 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Performance

Samsara stock opened at $54.60 on Monday. Samsara Inc. has a one year low of $27.14 and a one year high of $57.51. The company has a market cap of $30.64 billion, a P/E ratio of -116.17 and a beta of 1.61. The business has a fifty day moving average of $47.69 and a two-hundred day moving average of $46.44.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on IOT shares. Berenberg Bank began coverage on shares of Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 price target for the company. Wells Fargo & Company increased their target price on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada boosted their target price on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.67.

Insider Activity at Samsara

In related news, insider Adam Eltoukhy sold 9,307 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $49.55, for a total value of $461,161.85. Following the sale, the insider now directly owns 396,784 shares in the company, valued at $19,660,647.20. The trade was a 2.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $50.37, for a total transaction of $4,835,520.00. Following the completion of the sale, the chief executive officer now owns 195,886 shares in the company, valued at $9,866,777.82. This represents a 32.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,549,936 shares of company stock worth $75,624,852 over the last 90 days. Company insiders own 60.04% of the company’s stock.

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.