Franklin Resources Inc. acquired a new stake in Samsara Inc. (NYSE:IOT - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 215,252 shares of the company's stock, valued at approximately $10,868,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of IOT. State Street Corp increased its position in shares of Samsara by 4.7% in the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company's stock valued at $102,283,000 after purchasing an additional 95,006 shares during the last quarter. HighTower Advisors LLC increased its holdings in Samsara by 193.4% in the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company's stock valued at $2,981,000 after buying an additional 40,833 shares during the last quarter. Swiss National Bank raised its stake in Samsara by 3.1% in the third quarter. Swiss National Bank now owns 615,600 shares of the company's stock valued at $29,623,000 after buying an additional 18,400 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Samsara by 2,787.2% during the 3rd quarter. International Assets Investment Management LLC now owns 10,827 shares of the company's stock worth $521,000 after buying an additional 10,452 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in shares of Samsara during the 2nd quarter worth about $537,000. 96.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
IOT has been the subject of several recent analyst reports. Craig Hallum began coverage on Samsara in a research note on Tuesday, October 22nd. They set a "hold" rating and a $48.00 target price for the company. StockNews.com upgraded shares of Samsara from a "sell" rating to a "hold" rating in a research report on Friday, November 8th. Loop Capital increased their target price on shares of Samsara from $46.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, December 5th. Evercore ISI boosted their price target on shares of Samsara from $40.00 to $42.00 and gave the company an "in-line" rating in a research report on Friday, September 6th. Finally, Wells Fargo & Company raised their price objective on Samsara from $46.00 to $55.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $51.29.
Read Our Latest Stock Analysis on IOT
Samsara Price Performance
Shares of IOT stock traded up $1.65 during mid-day trading on Friday, hitting $44.32. The stock had a trading volume of 5,982,712 shares, compared to its average volume of 3,609,155. The firm has a market cap of $24.87 billion, a PE ratio of -94.30 and a beta of 1.53. The company's 50-day simple moving average is $50.07 and its 200-day simple moving average is $43.03. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.
Insider Activity at Samsara
In other news, CEO Sanjit Biswas sold 75,594 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $55.89, for a total transaction of $4,224,948.66. Following the sale, the chief executive officer now owns 120,292 shares of the company's stock, valued at $6,723,119.88. The trade was a 38.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $50.00, for a total value of $200,000.00. Following the completion of the sale, the insider now owns 396,784 shares in the company, valued at approximately $19,839,200. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,439,925 shares of company stock worth $72,045,428 over the last 90 days. Company insiders own 60.04% of the company's stock.
Samsara Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Samsara, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Samsara wasn't on the list.
While Samsara currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
