Allstate Corp Buys New Position in Samsara Inc. (NYSE:IOT)

Allstate Corp purchased a new stake in Samsara Inc. (NYSE:IOT) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,359 shares of the company’s stock, valued at approximately $278,000.

Other hedge funds have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Samsara during the 4th quarter valued at about $31,000. Hobbs Group Advisors LLC bought a new stake in Samsara during the 3rd quarter valued at approximately $34,000. IFP Advisors Inc grew its holdings in shares of Samsara by 290.3% during the 4th 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. Continuum Advisory LLC raised its position in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after acquiring an additional 247 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of 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 purchasing an additional 635 shares during the period. 96.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Samsara news, insider Sanjit Biswas sold 59,114 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $45.25, for a total value of $2,674,908.50. Following the transaction, the insider now owns 196,678 shares of the company’s stock, valued at approximately $8,899,679.50. This represents a 23.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Bicket sold 107,152 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $51.13, for a total transaction of $5,478,681.76. Following the sale, the insider now directly owns 138,000 shares of the company’s stock, valued at $7,055,940. The trade was a 43.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,628,453 shares of company stock worth $71,145,841. 60.04% of the stock is owned by insiders.

Samsara Stock Down 1.8 %

Shares of NYSE IOT opened at $38.09 on Thursday. The firm’s 50-day moving average price is $46.86 and its 200-day moving average price is $47.86. Samsara Inc. has a 52-week low of $27.14 and a 52-week high of $61.90. The company has a market cap of $21.38 billion, a PE ratio of -81.04 and a beta of 1.63.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IOT. Piper Sandler raised Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target on the stock in a research note on Monday, March 10th. BMO Capital Markets raised shares of Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research report on Monday, March 10th. JPMorgan Chase & Co. lifted their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada cut their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Finally, Craig Hallum reiterated a “hold” rating on shares of Samsara in a report on Friday, March 7th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Samsara has an average rating of “Moderate Buy” and a consensus price target of $49.60.

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.