Samsara (NYSE:IOT) Reaches New 12-Month High at $47.79

Samsara Inc. (NYSE:IOT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $47.79 and last traded at $47.21, with a volume of 751443 shares traded. The stock had previously closed at $47.44.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of recent research reports. TD Cowen lifted their price objective on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Evercore ISI boosted their price target on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price objective on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Piper Sandler boosted their target price on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 6th. Finally, Bank of America upped their price target on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Samsara Price Performance

The stock has a market cap of $26.20 billion, a price-to-earnings ratio of -95.18 and a beta of 1.50. The company’s 50 day moving average is $39.68 and its 200 day moving average is $36.73.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same period last year, the firm earned ($0.11) EPS. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. Sell-side analysts predict that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Activity

In related news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total value of $2,831,040.00. Following the sale, the chief executive officer now directly owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. Insiders sold a total of 2,047,254 shares of company stock worth $82,255,010 over 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. Boulder Hill Capital Management LP acquired a new stake in shares of Samsara during the 4th quarter worth about $1,115,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Samsara by 9.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 969,429 shares of the company’s stock valued at $32,360,000 after buying an additional 79,773 shares during the period. CHURCHILL MANAGEMENT Corp boosted its position in Samsara by 135.6% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after acquiring an additional 34,679 shares during the last quarter. Mission Wealth Management LP purchased a new stake in Samsara in the 1st quarter worth approximately $1,100,000. Finally, Quarry LP acquired a new position in Samsara in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 89.39% of the company’s stock.

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.