J. Safra Sarasin Holding AG Takes Position in Samsara Inc. (NYSE:IOT)

J. Safra Sarasin Holding AG bought a new position in Samsara Inc. (NYSE:IOT) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 53,740 shares of the company’s stock, valued at approximately $2,348,000.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC increased its stake in Samsara by 163.2% in the 3rd quarter. Barclays PLC now owns 412,066 shares of the company’s stock worth $19,829,000 after acquiring an additional 255,532 shares during the last quarter. Virtu Financial LLC bought a new stake in Samsara during the third quarter valued at approximately $1,689,000. Wilmington Savings Fund Society FSB bought a new position in shares of Samsara in the 3rd quarter worth $546,000. Franklin Resources Inc. purchased a new stake in shares of Samsara during the 3rd quarter valued at $10,868,000. Finally, Lord Abbett & CO. LLC lifted its stake in Samsara by 1,909.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock worth $90,026,000 after purchasing an additional 1,777,757 shares during the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Trading Down 5.4 %

Shares of Samsara stock opened at $35.51 on Tuesday. The business has a fifty day simple moving average of $42.15 and a two-hundred day simple moving average of $46.68. The firm has a market capitalization of $20.22 billion, a P/E ratio of -75.55 and a beta of 1.71. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90.

Insider Activity at Samsara

In other news, insider John Bicket sold 107,152 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total value of $5,478,681.76. Following the sale, the insider now directly owns 138,000 shares of the company’s stock, valued at approximately $7,055,940. This represents a 43.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sanjit Biswas sold 160,000 shares of the company’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $34.89, for a total transaction of $5,582,400.00. Following the completion of the transaction, the insider now owns 108,000 shares in the company, valued at approximately $3,768,120. The trade was a 59.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,190,384 shares of company stock valued at $49,818,557 in the last three months. Company insiders own 60.04% of the company’s stock.

Analysts Set New Price Targets

IOT has been the subject of several research reports. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research note on Monday, March 10th. Berenberg Bank started coverage on shares of Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target for the company. Morgan Stanley reduced their price objective on Samsara from $56.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Cowen restated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Finally, Raymond James started coverage on Samsara in a research note on Wednesday, February 26th. They set a “market perform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.07.

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.