215,252 Shares in Samsara Inc. (NYSE:IOT) Purchased by Franklin Resources Inc.

Franklin Resources Inc. bought a new stake in Samsara Inc. (NYSE:IOT) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 215,252 shares of the company’s stock, valued at approximately $10,868,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hobbs Group Advisors LLC acquired a new position in Samsara in the third quarter valued at approximately $34,000. Continuum Advisory LLC lifted its stake in shares of Samsara by 39.1% in the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock valued at $45,000 after purchasing an additional 247 shares during the last quarter. Resources Management Corp CT ADV grew its holdings 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 during the period. UMB Bank n.a. increased its position 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 worth $49,000 after purchasing an additional 418 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in Samsara in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Trading Up 3.9 %

Shares of NYSE:IOT opened at $44.32 on Friday. Samsara Inc. has a 52 week low of $27.14 and a 52 week high of $57.51. The company’s 50 day moving average is $50.07 and its two-hundred day moving average is $42.96. The company has a market cap of $24.87 billion, a PE ratio of -94.30 and a beta of 1.53.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IOT. Piper Sandler boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Loop Capital upped their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Evercore ISI lifted their price objective on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Morgan Stanley boosted their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada raised their target price on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.29.

Insider Buying and Selling

In other news, insider Dominic Phillips sold 64,629 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.95, for a total value of $2,969,702.55. Following the completion of the sale, the insider now directly owns 755,001 shares of the company’s stock, valued at approximately $34,692,295.95. The trade was a 7.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $45.92, for a total value of $5,160,489.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,439,925 shares of company stock worth $72,045,428. Corporate insiders own 60.04% of the company’s stock.

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.