Samsara (NYSE:IOT) Given Neutral Rating at Piper Sandler

Piper Sandler reiterated their neutral rating on shares of Samsara (NYSE:IOT) in a research report report published on Friday morning, Benzinga reports. Piper Sandler currently has a $36.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. Bank of America started coverage on Samsara in a report on Thursday, June 20th. They set a buy rating and a $37.00 price target on the stock. Loop Capital reissued a buy rating and set a $42.00 price target on shares of Samsara in a report on Friday. BMO Capital Markets reissued a market perform rating and set a $40.00 price target on shares of Samsara in a report on Tuesday, June 11th. Wolfe Research reissued an outperform rating and set a $44.00 price target on shares of Samsara in a report on Friday. Finally, StockNews.com raised Samsara from a sell rating to a hold rating in a report on Saturday, May 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $37.17.

Samsara Trading Up 3.4 %

Shares of IOT opened at $33.74 on Friday. The business’s fifty day simple moving average is $35.02 and its two-hundred day simple moving average is $34.27. Samsara has a 12 month low of $21.48 and a 12 month high of $42.28. The company has a market cap of $18.58 billion, a price-to-earnings ratio of -67.48 and a beta of 1.51.

Insiders Place Their Bets

In other Samsara news, insider Adam Eltoukhy sold 10,422 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $30.78, for a total value of $320,789.16. Following the completion of the sale, the insider now owns 535,149 shares in the company, valued at approximately $16,471,886.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Samsara news, insider Adam Eltoukhy sold 10,422 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $30.78, for a total value of $320,789.16. Following the completion of the sale, the insider now owns 535,149 shares in the company, valued at approximately $16,471,886.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total value of $2,831,040.00. Following the completion of the sale, the chief executive officer now owns 1,466,299 shares of the company’s stock, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,707,743 shares of company stock worth $58,180,086. Corporate insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Samsara during the first quarter valued at about $362,000. Teachers Retirement System of The State of Kentucky grew its position 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 valued at $5,547,000 after purchasing an additional 45,700 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Samsara by 6.8% during the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock valued at $295,000 after purchasing an additional 497 shares in the last quarter. Washington Harbour Partners LP purchased a new position in shares of Samsara during the first quarter valued at about $1,150,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Samsara during the first quarter valued at about $274,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.