Samsara (NYSE:IOT) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Samsara (NYSE:IOT) from a neutral rating to an overweight rating in a research note published on Monday morning, MarketBeat reports. Piper Sandler currently has $50.00 price target on the stock.

Several other research firms have also recently issued reports on IOT. Raymond James began coverage on shares of Samsara in a report on Wednesday, February 26th. They set a “market perform” rating for the company. JPMorgan Chase & Co. upped their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Truist Financial cut their price target on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a report on Friday. BMO Capital Markets decreased their price target on shares of Samsara from $57.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday. Finally, Loop Capital lifted their price objective on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Samsara Price Performance

IOT stock opened at $34.25 on Monday. The company has a fifty day moving average price of $48.83 and a 200 day moving average price of $48.31. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The company has a market cap of $19.22 billion, a price-to-earnings ratio of -72.86 and a beta of 1.63.

Insider Activity

In other news, insider Sanjit Biswas sold 145,392 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $44.27, for a total value of $6,436,503.84. Following the transaction, the insider now directly owns 120,000 shares of the company’s stock, valued at $5,312,400. The trade was a 54.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Bicket sold 107,152 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $51.13, for a total value of $5,478,681.76. Following the completion of the transaction, the insider now owns 138,000 shares in the company, valued at approximately $7,055,940. This represents a 43.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,257,396 shares of company stock worth $58,904,713. 60.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of Samsara by 77.5% in the third quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock valued at $91,000 after acquiring an additional 821 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Samsara by 2.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 78,287 shares of the company’s stock worth $3,767,000 after acquiring an additional 2,114 shares during the last quarter. Baillie Gifford & Co. boosted its position in Samsara by 23.4% in the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after buying an additional 6,411,178 shares in the last quarter. Rakuten Securities Inc. grew its position in Samsara by 100.4% during the 3rd quarter. Rakuten Securities Inc. now owns 46,903 shares of the company’s stock worth $2,257,000 after acquiring an additional 23,495 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Samsara by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,283 shares of the company’s stock worth $18,107,000 after purchasing an additional 16,528 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

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.