Samsara (NYSE:IOT) Given “Buy” Rating at Loop Capital

Loop Capital reissued their buy rating on shares of Samsara (NYSE:IOT) in a research note issued to investors on Friday, Benzinga reports. The firm currently has a $42.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada reiterated an outperform rating and issued a $47.00 target price on shares of Samsara in a report on Wednesday. BMO Capital Markets reiterated a market perform rating and issued a $40.00 target price on shares of Samsara in a report on Tuesday, June 11th. Evercore ISI lowered their price target on Samsara from $41.00 to $40.00 and set an in-line rating for the company in a research note on Friday, June 7th. Piper Sandler reissued a neutral rating and issued a $36.00 price target (down previously from $41.00) on shares of Samsara in a research note on Friday, June 7th. Finally, Bank of America assumed coverage on Samsara in a research note on Thursday, June 20th. They issued a buy rating and a $37.00 price target for the company. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $37.17.

Samsara Price Performance

Shares of IOT opened at $33.74 on Friday. The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of -67.48 and a beta of 1.51. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $42.28. The business’s 50-day moving average is $35.02 and its 200-day moving average is $34.27.

Insiders Place Their Bets

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $34.69, for a total transaction of $3,330,240.00. Following the completion of the sale, the chief executive officer now owns 57,600 shares of the company’s stock, valued at $1,998,144. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $34.69, for a total transaction of $3,330,240.00. Following the completion of the transaction, the chief executive officer now directly owns 57,600 shares in the company, valued at $1,998,144. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marc L. Andreessen sold 277,484 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total value of $8,013,737.92. The disclosure for this sale can be found here. Insiders sold 1,707,743 shares of company stock valued at $58,180,086 over the last 90 days. 60.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale acquired a new position in shares of Samsara during the first quarter worth approximately $362,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Samsara by 45.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 146,789 shares of the company’s stock worth $5,547,000 after buying an additional 45,700 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after buying an additional 497 shares during the last quarter. Washington Harbour Partners LP acquired a new position in shares of Samsara in the first quarter valued at $1,150,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Samsara in the first quarter valued at $274,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

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.