Franklin Resources Inc. Purchases 1,243,561 Shares of Samsara Inc. (NYSE:IOT)

Franklin Resources Inc. increased its holdings in shares of Samsara Inc. (NYSE:IOT - Free Report) by 577.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,458,813 shares of the company's stock after purchasing an additional 1,243,561 shares during the quarter. Franklin Resources Inc. owned approximately 0.26% of Samsara worth $63,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new stake in shares of Samsara in the fourth quarter valued at about $31,000. Hobbs Group Advisors LLC acquired a new position in shares of Samsara during the 3rd quarter worth approximately $34,000. IFP Advisors Inc increased its position in shares of Samsara by 290.3% during the 4th quarter. IFP Advisors Inc now owns 804 shares of the company's stock worth $35,000 after purchasing an additional 598 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company's stock worth $45,000 after purchasing an additional 247 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Samsara by 62.1% in the 4th quarter. UMB Bank n.a. now owns 1,658 shares of the company's stock valued at $72,000 after buying an additional 635 shares during the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Truist Financial cut their price target on shares of Samsara from $50.00 to $42.00 and set a "hold" rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reduced their price target on Samsara from $64.00 to $54.00 and set an "outperform" rating for the company in a report on Friday, March 7th. Raymond James assumed coverage on Samsara in a research note on Wednesday, February 26th. They issued a "market perform" rating on the stock. BMO Capital Markets upgraded Samsara from a "market perform" rating to an "outperform" rating and set a $48.00 target price for the company in a research note on Monday, March 10th. Finally, Berenberg Bank started coverage on shares of Samsara in a research report on Monday, February 3rd. They set 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 issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $49.20.

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Samsara Price Performance

IOT traded up $1.62 on Tuesday, hitting $35.26. 2,702,570 shares of the stock were exchanged, compared to its average volume of 3,693,220. The business has a 50-day moving average of $45.98 and a two-hundred day moving average of $47.57. Samsara Inc. has a 12 month low of $27.14 and a 12 month high of $61.90. The firm has a market capitalization of $20.07 billion, a price-to-earnings ratio of -75.01 and a beta of 1.71.

Insider Activity at Samsara

In other news, insider Dominic Phillips sold 21,157 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $38.37, for a total value of $811,794.09. Following the completion of the transaction, the insider now owns 638,642 shares of the company's stock, valued at approximately $24,504,693.54. This represents a 3.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.72, for a total transaction of $871,200.00. Following the transaction, the director now owns 373,579 shares of the company's stock, valued at approximately $14,464,978.88. This represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,569,339 shares of company stock valued at $68,470,932 over the last three months. 60.04% of the stock is owned by insiders.

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.