Jennison Associates LLC raised its position in shares of Samsara Inc. (NYSE:IOT - Free Report) by 1,881.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,763,133 shares of the company's stock after purchasing an additional 11,169,571 shares during the quarter. Jennison Associates LLC owned 2.07% of Samsara worth $450,881,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC increased its position in Samsara by 4.6% in the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company's stock worth $280,000 after purchasing an additional 281 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of Samsara by 32.1% in the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company's stock valued at $51,000 after acquiring an additional 282 shares during the period. Cim LLC raised its stake in shares of Samsara by 1.3% in the fourth quarter. Cim LLC now owns 31,164 shares of the company's stock valued at $1,362,000 after acquiring an additional 386 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Samsara by 262.0% in the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company's stock worth $25,000 after purchasing an additional 414 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Samsara by 7.3% in the fourth quarter. Wellington Management Group LLP now owns 8,538 shares of the company's stock worth $373,000 after purchasing an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 96.02% of the company's stock.
Insider Transactions at Samsara
In other Samsara news, Director Marc L. Andreessen sold 399,026 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total value of $16,491,744.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Parallel Fund Iv L.P. Ah sold 399,026 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $41.33, for a total value of $16,491,744.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,532,323 shares of company stock valued at $105,452,742. 46.49% of the stock is currently owned by company insiders.
Samsara Stock Performance
Shares of NYSE IOT traded up $1.10 during trading on Friday, reaching $39.25. The stock had a trading volume of 4,420,609 shares, compared to its average volume of 4,034,287. The stock has a market cap of $22.35 billion, a PE ratio of -178.41 and a beta of 1.63. The firm's 50 day moving average price is $42.16 and its two-hundred day moving average price is $43.34. Samsara Inc. has a one year low of $31.40 and a one year high of $61.90.
Samsara (NYSE:IOT - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The business had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The company's revenue was up 30.7% on a year-over-year basis. On average, research analysts expect that Samsara Inc. will post -0.3 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Samsara from $56.00 to $50.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Wall Street Zen cut shares of Samsara from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Wells Fargo & Company lifted their price target on Samsara from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Evercore ISI set a $45.00 price target on Samsara in a report on Wednesday, June 25th. Finally, BMO Capital Markets lifted their price target on Samsara from $48.00 to $54.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $50.64.
View Our Latest Stock Report on IOT
About Samsara
(
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.
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