Truist Financial Cuts Samsara (NYSE:IOT) Price Target to $42.00

Samsara (NYSE:IOT) had its price objective trimmed by Truist Financial from $50.00 to $42.00 in a report released on Friday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley increased their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. JPMorgan Chase & Co. increased their target price on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Berenberg Bank initiated coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price on the stock. Loop Capital increased their target price on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Wells Fargo & Company decreased their price target on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.60.

Samsara Trading Down 15.7 %

Samsara stock opened at $35.32 on Friday. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The business’s 50 day simple moving average is $49.02 and its 200 day simple moving average is $48.36. The company has a market cap of $19.82 billion, a price-to-earnings ratio of -75.14 and a beta of 1.63.

Insider Activity

In other news, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $45.37, for a total transaction of $1,020,825.00. Following the completion of the sale, the director now directly owns 396,079 shares in the company, valued at approximately $17,970,104.23. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sanjit Biswas sold 48,884 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $45.36, for a total transaction of $2,217,378.24. Following the sale, the insider now owns 2,007,964 shares of the company’s stock, valued at approximately $91,081,247.04. This represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,369,776 shares of company stock valued at $64,065,203. 60.04% of the stock is currently owned by insiders.

Institutional Trading of Samsara

A number of institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. boosted its holdings in shares of Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares during the period. Vanguard Group Inc. lifted its holdings in Samsara by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after buying an additional 863,197 shares during the period. FMR LLC lifted its holdings in Samsara by 24.0% in the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after buying an additional 2,852,575 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Samsara by 107.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after buying an additional 2,148,081 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in Samsara by 4.1% in the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock worth $168,741,000 after buying an additional 138,702 shares during the period. 96.02% of the stock is currently owned by hedge funds and other institutional investors.

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.