Zevenbergen Capital Investments LLC Invests $18.08 Million in Samsara Inc. (NYSE:IOT)

Zevenbergen Capital Investments LLC acquired a new stake in shares of Samsara Inc. (NYSE:IOT) in the fourth quarter, HoldingsChannel reports. The fund acquired 413,825 shares of the company’s stock, valued at approximately $18,080,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Samsara by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after buying an additional 863,197 shares during the last quarter. FMR LLC lifted its holdings in Samsara by 15.6% in the 3rd quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after purchasing an additional 1,604,822 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in Samsara by 4.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after purchasing an additional 138,702 shares during the last quarter. Amundi raised its position in shares of Samsara by 22.2% in the fourth quarter. Amundi now owns 3,013,265 shares of the company’s stock valued at $133,126,000 after purchasing an additional 547,390 shares during the period. Finally, Jordan Park Trust Co LLC acquired a new stake in shares of Samsara in the fourth quarter worth $112,041,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Trading Up 1.9 %

NYSE:IOT opened at $40.26 on Monday. The stock has a market capitalization of $22.59 billion, a P/E ratio of -85.65 and a beta of 1.63. Samsara Inc. has a 1 year low of $27.14 and a 1 year high of $61.90. The firm has a 50 day moving average of $47.80 and a 200-day moving average of $48.16.

Insiders Place Their Bets

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.19, for a total transaction of $10,015,310.89. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sanjit Biswas sold 13,086 shares of Samsara stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the completion of the sale, the insider now directly owns 1,571,848 shares of the company’s stock, valued at $87,630,526. This trade represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,573,317 shares of company stock valued at $69,108,479. 60.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

IOT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Craig Hallum restated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Cowen reaffirmed a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Royal Bank of Canada decreased their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Berenberg Bank began coverage on Samsara in a research report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.