Jennison Associates LLC Boosts Stake in Samsara Inc. (NYSE:IOT)

Jennison Associates LLC lifted its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 13,426.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 593,562 shares of the company's stock after acquiring an additional 589,174 shares during the period. Jennison Associates LLC owned 0.11% of Samsara worth $25,933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of Montreal Can purchased a new position in Samsara during the 2nd quarter worth approximately $537,000. SG Americas Securities LLC purchased a new position in Samsara during the 3rd quarter worth approximately $526,000. Handelsbanken Fonder AB grew its stake in Samsara by 17.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 47,000 shares of the company's stock worth $2,262,000 after buying an additional 7,100 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in Samsara during the 3rd quarter worth approximately $339,000. Finally, UMB Bank n.a. grew its stake in Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company's stock worth $49,000 after buying an additional 418 shares during the last quarter. Institutional investors and hedge funds own 96.02% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IOT shares. Berenberg Bank began coverage on Samsara in a research note on Monday, February 3rd. They set a "hold" rating and a $57.00 price target on the stock. Wells Fargo & Company lifted their target price on Samsara from $46.00 to $55.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. TD Cowen lifted their target price on Samsara from $46.00 to $56.00 and gave the company a "buy" rating in a research note on Friday, October 11th. BMO Capital Markets lifted their target price on Samsara from $44.00 to $57.00 and gave the company a "market perform" rating in a research note on Friday, December 6th. Finally, Truist Financial lifted 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. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $51.67.

Insider Buying and Selling

In other news, CEO Sanjit Biswas sold 96,000 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $50.37, for a total value of $4,835,520.00. Following the completion of the transaction, the chief executive officer now directly owns 195,886 shares of the company's stock, valued at $9,866,777.82. The trade was a 32.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Adam Eltoukhy sold 9,307 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.55, for a total value of $461,161.85. Following the completion of the transaction, the insider now directly owns 396,784 shares of the company's stock, valued at approximately $19,660,647.20. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,549,936 shares of company stock valued at $75,624,852. 60.04% of the stock is owned by insiders.

Samsara Stock Performance

IOT stock traded up $0.58 during midday trading on Friday, hitting $54.60. 3,283,462 shares of the stock were exchanged, compared to its average volume of 2,405,116. The stock's 50-day moving average price is $47.69 and its 200-day moving average price is $46.38. The stock has a market cap of $30.64 billion, a price-to-earnings ratio of -116.17 and a beta of 1.61. Samsara Inc. has a fifty-two week low of $27.14 and a fifty-two week high of $57.51.

Samsara Profile

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.