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

Jennison Associates LLC boosted its holdings in shares of Samsara Inc. (NYSE:IOT) by 13,426.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 593,562 shares of the company’s stock after buying an additional 589,174 shares during the period. Jennison Associates LLC owned approximately 0.11% of Samsara worth $25,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in shares of Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after acquiring an additional 6,411,178 shares during the last quarter. Lord Abbett & CO. LLC lifted its position 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 valued at $90,026,000 after purchasing an additional 1,777,757 shares during the last quarter. FMR LLC grew its stake 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 buying an additional 1,604,822 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Samsara by 84.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,608,921 shares of the company’s stock worth $77,421,000 after buying an additional 734,619 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Samsara by 55.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock valued at $88,013,000 after buying an additional 650,982 shares in the last quarter. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

Samsara Price Performance

IOT opened at $52.57 on Wednesday. Samsara Inc. has a one year low of $27.14 and a one year high of $57.51. The business has a 50 day simple moving average of $47.71 and a two-hundred day simple moving average of $46.03. The firm has a market capitalization of $29.50 billion, a price-to-earnings ratio of -111.85 and a beta of 1.61.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IOT shares. Truist Financial increased their target price on Samsara from $40.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Royal Bank of Canada raised their price objective on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. BMO Capital Markets upped their target price on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research note on Friday, December 6th. BNP Paribas initiated coverage on shares of Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. Finally, Berenberg Bank began coverage on shares of Samsara in a research note on Monday. They issued a “hold” rating and a $57.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.67.

Insider Activity at Samsara

In other Samsara news, insider John Bicket sold 107,152 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total transaction of $5,478,681.76. Following the transaction, the insider now owns 138,000 shares in the company, valued at approximately $7,055,940. This represents a 43.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjit Biswas sold 56,474 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $43.33, for a total value of $2,447,018.42. Following the completion of the transaction, the insider now directly owns 116,257 shares of the company’s stock, valued at $5,037,415.81. This represents a 32.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,529,135 shares of company stock worth $74,564,625 over the last quarter. 60.04% of the stock is owned by corporate 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.