Zevenbergen Capital Investments LLC Takes Position in Samsara Inc. (NYSE:IOT)

Zevenbergen Capital Investments LLC purchased a new position in Samsara Inc. (NYSE:IOT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 413,825 shares of the company’s stock, valued at approximately $18,080,000. Zevenbergen Capital Investments LLC owned approximately 0.07% of Samsara as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IOT. Victory Capital Management Inc. increased its stake in Samsara by 12.6% during the third quarter. Victory Capital Management Inc. now owns 67,851 shares of the company’s stock valued at $3,265,000 after purchasing an additional 7,613 shares during the last quarter. Empowered Funds LLC grew its position in shares of Samsara by 55.1% during the 3rd quarter. Empowered Funds LLC now owns 9,750 shares of the company’s stock valued at $469,000 after buying an additional 3,463 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Samsara during the third quarter worth about $205,000. Jennison Associates LLC bought a new position in Samsara in the third quarter worth about $211,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Samsara in the third quarter valued at approximately $697,000. 96.02% of the stock is owned by institutional investors.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 3,903 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the transaction, the insider now owns 320,936 shares of the company’s stock, valued at approximately $10,934,289.52. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $34.19, for a total transaction of $10,015,310.89. The disclosure for this sale can be found here. Insiders sold a total of 1,573,317 shares of company stock valued at $69,108,479 in the last three months. 60.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IOT has been the subject of a number of analyst reports. Berenberg Bank assumed coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Craig Hallum restated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 target price for the company in a research note on Monday, March 10th. Truist Financial dropped their price target on shares of Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. boosted 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. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

Samsara Price Performance

IOT stock opened at $40.26 on Monday. The firm has a market cap of $22.59 billion, a PE ratio of -85.65 and a beta of 1.63. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The firm has a 50 day simple moving average of $47.80 and a 200 day simple moving average of $48.16.

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.