Samsara (NYSE:IOT) Coverage Initiated at Bank of America

Investment analysts at Bank of America started coverage on shares of Samsara (NYSE:IOT) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $37.00 price target on the stock. Bank of America‘s price target points to a potential upside of 24.96% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Samsara in a research note on Friday, June 7th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $40.00 price objective on shares of Samsara in a research note on Tuesday, June 11th. Evercore ISI reduced their target price on Samsara from $41.00 to $40.00 and set an “in-line” rating on the stock in a report on Friday, June 7th. Piper Sandler restated a “neutral” rating and set a $36.00 price target (down previously from $41.00) on shares of Samsara in a report on Friday, June 7th. Finally, Loop Capital assumed coverage on shares of Samsara in a research note on Thursday, April 18th. They set a “buy” rating and a $42.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Samsara currently has an average rating of “Moderate Buy” and an average price target of $35.75.

Samsara Price Performance

IOT opened at $29.61 on Thursday. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $42.28. The company’s 50 day moving average price is $35.12 and its two-hundred day moving average price is $34.47. The firm has a market capitalization of $16.30 billion, a price-to-earnings ratio of -59.22 and a beta of 1.51.

Insider Transactions at Samsara

In related news, insider Lara Caimi sold 19,379 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $39.00, for a total transaction of $755,781.00. Following the transaction, the insider now directly owns 1,196,989 shares of the company’s stock, valued at approximately $46,682,571. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $39.26, for a total transaction of $3,768,960.00. Following the completion of the sale, the chief executive officer now directly owns 1,307,921 shares of the company’s stock, valued at $51,348,978.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lara Caimi sold 19,379 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $39.00, for a total transaction of $755,781.00. Following the completion of the transaction, the insider now directly owns 1,196,989 shares in the company, valued at approximately $46,682,571. The disclosure for this sale can be found here. Insiders have sold 1,796,026 shares of company stock valued at $62,421,857 in the last 90 days. 60.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Samsara

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fred Alger Management LLC purchased a new position in Samsara during the 3rd quarter worth $28,000. Quarry LP bought a new stake in shares of Samsara during the 4th quarter worth $37,000. Montag A & Associates Inc. boosted its holdings in shares of Samsara by 1,200.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after buying an additional 1,200 shares during the last quarter. Tradition Wealth Management LLC bought a new position in Samsara during the fourth quarter valued at about $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Samsara by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after buying an additional 381 shares during the last quarter. 89.39% of the stock is owned by institutional investors.

About Samsara

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.