Samsara Inc. (NYSE:IOT) Given Average Rating of “Hold” by Brokerages

Shares of Samsara Inc. (NYSE:IOT) have received an average recommendation of “Hold” from the fourteen brokerages that are presently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $51.29.

Several analysts recently issued reports on the company. TD Cowen raised their target price on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Piper Sandler increased their price objective on shares of Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Craig Hallum began coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price for the company. BNP Paribas initiated coverage on shares of Samsara in a report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th.

Samsara Trading Down 2.2 %

IOT stock opened at $42.67 on Friday. The company’s 50 day moving average is $50.19 and its 200 day moving average is $42.89. The stock has a market cap of $23.74 billion, a price-to-earnings ratio of -90.79 and a beta of 1.53. Samsara has a 1-year low of $27.14 and a 1-year high of $57.51.

Insider Activity

In other Samsara news, CEO Sanjit Biswas sold 74,667 shares of Samsara stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $49.44, for a total value of $3,691,536.48. Following the transaction, the chief executive officer now owns 793,219 shares in the company, valued at approximately $39,216,747.36. The trade was a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 8,500 shares of Samsara stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.01, for a total value of $425,085.00. Following the completion of the transaction, the insider now directly owns 396,784 shares in the company, valued at $19,843,167.84. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,439,925 shares of company stock valued at $72,045,428. 60.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Samsara

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its position in Samsara by 4.7% in the third quarter. State Street Corp now owns 2,125,584 shares of the company’s stock worth $102,283,000 after purchasing an additional 95,006 shares during the period. HighTower Advisors LLC lifted its position in Samsara by 193.4% during the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock worth $2,981,000 after buying an additional 40,833 shares in the last quarter. Swiss National Bank grew its holdings in Samsara by 3.1% during the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock worth $29,623,000 after acquiring an additional 18,400 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Samsara by 2,787.2% in the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after acquiring an additional 10,452 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Samsara during the second quarter valued at approximately $537,000. Institutional investors own 96.02% 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.