Jennison Associates LLC Acquires 589,174 Shares of Samsara Inc. (NYSE:IOT)

Jennison Associates LLC boosted its holdings in Samsara Inc. (NYSE:IOT) by 13,426.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 593,562 shares of the company’s stock after purchasing an additional 589,174 shares during the quarter. Jennison Associates LLC’s holdings in Samsara were worth $25,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. grew its stake in shares of Samsara by 23.4% in the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after buying an additional 6,411,178 shares during the last quarter. FMR LLC grew its stake in shares of Samsara by 15.6% in the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after acquiring an additional 1,604,822 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of 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 acquiring an additional 138,702 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Samsara by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock worth $109,307,000 after purchasing an additional 196,867 shares during the last quarter. Finally, State Street Corp boosted its stake in Samsara by 4.7% in the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after purchasing an additional 95,006 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

Samsara Trading Up 2.3 %

Shares of NYSE IOT opened at $52.57 on Wednesday. Samsara Inc. has a 12-month low of $27.14 and a 12-month high of $57.51. The firm has a market capitalization of $29.50 billion, a price-to-earnings ratio of -111.85 and a beta of 1.61. The firm has a 50 day moving average of $47.71 and a 200 day moving average of $46.03.

Analyst Ratings Changes

A number of research firms have weighed in on IOT. Royal Bank of Canada raised their price objective on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. StockNews.com raised shares of Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Truist Financial upped their price objective on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, November 18th. BNP Paribas began coverage on Samsara in a report on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price for the company. Finally, Berenberg Bank began coverage on Samsara in a report on Monday. They set a “hold” rating and a $57.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.67.

Insider Transactions at Samsara

In related news, insider Dominic Phillips sold 20,136 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $50.45, for a total transaction of $1,015,861.20. Following the completion of the transaction, the insider now directly owns 882,664 shares in the company, valued at approximately $44,530,398.80. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 9,307 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.55, for a total transaction of $461,161.85. Following the sale, the insider now owns 396,784 shares in the company, valued at approximately $19,660,647.20. The trade was a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,529,135 shares of company stock worth $74,564,625 in the last 90 days. 60.04% of the stock is currently owned by insiders.

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.