Jennison Associates LLC Acquires New Shares in Samsara Inc. (NYSE:IOT)

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

Other institutional investors also recently modified their holdings of the company. Resources Management Corp CT ADV raised 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 bought a new position in shares of Samsara during the 2nd quarter worth approximately $38,000. Nemes Rush Group LLC acquired a new position in shares of Samsara during the 2nd quarter worth approximately $45,000. UMB Bank n.a. raised its stake in Samsara by 69.1% in 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 during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Samsara by 250.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after purchasing an additional 1,000 shares during the last quarter. 89.39% of the stock is currently owned by institutional investors.

Samsara Price Performance

Shares of IOT opened at $56.35 on Monday. The business has a 50-day moving average of $49.25 and a 200-day moving average of $41.45. The company has a market capitalization of $31.35 billion, a price-to-earnings ratio of -117.40 and a beta of 1.52. Samsara Inc. has a 1 year low of $26.13 and a 1 year high of $56.76.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $289.53 million. During the same quarter last year, the business earned ($0.11) EPS. The company’s revenue was up 36.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Samsara Inc. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IOT. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Wells Fargo & Company upped their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Bank of America lifted their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Sandler lifted their price objective on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Finally, Loop Capital boosted their price objective on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.67.

Insider Activity

In other news, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the sale, the chief accounting officer now directly owns 319,667 shares of the company’s stock, valued at $15,123,445.77. The trade was a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjit Biswas sold 84,030 shares of the business’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 value 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 $33,814,921.86. This represents a 9.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,826,114 shares of company stock valued at $84,024,779 in the last ninety days. 60.04% of the stock is owned by company insiders.

Samsara Company 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.