Jennison Associates LLC Invests $211,000 in Samsara Inc. (NYSE:IOT)

Jennison Associates LLC bought a new position in shares of Samsara Inc. (NYSE:IOT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,388 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds have also modified their holdings of IOT. Resources Management Corp CT ADV increased its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Samsara in the second quarter worth $38,000. Nemes Rush Group LLC purchased a new position in shares of Samsara in the 2nd quarter valued at $45,000. UMB Bank n.a. lifted its holdings in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after acquiring an additional 418 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares during the period. 89.39% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Performance

Shares of IOT stock opened at $56.35 on Monday. The business’s fifty day moving average is $49.25 and its 200-day moving average is $41.45. Samsara Inc. has a 1 year low of $26.13 and a 1 year high of $56.76. The stock has a market cap of $31.35 billion, a PE ratio of -117.40 and a beta of 1.52.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The firm had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the previous year, the company posted ($0.11) EPS. The company’s quarterly revenue was up 36.9% compared to the same quarter last year. Equities research analysts predict that Samsara Inc. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on IOT shares. Evercore ISI boosted their price objective on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. Morgan Stanley boosted their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their price objective on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Loop Capital boosted their target price on shares of Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, Craig Hallum started coverage on shares of Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target on the stock. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $45.67.

Insider Transactions at Samsara

In other Samsara news, insider Adam Eltoukhy sold 12,500 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $45.00, for a total transaction of $562,500.00. Following the completion of the transaction, the insider now directly owns 465,967 shares in the company, valued at $20,968,515. This represents a 2.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 84,030 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $41.94, for a total transaction of $3,524,218.20. Following the sale, the chief executive officer now directly owns 806,269 shares of the company’s stock, valued at approximately $33,814,921.86. The trade was a 9.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,826,114 shares of company stock worth $84,024,779. 60.04% of the stock is owned by corporate 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.