Samsara Inc. (NYSE:IOT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Samsara Inc. (NYSE:IOT) have been assigned an average rating of “Moderate Buy” from the seventeen brokerages that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $49.60.

A number of equities research analysts recently weighed in on IOT shares. Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target for the company in a research report on Monday, March 10th. Raymond James assumed coverage on Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating for the company. Cowen reiterated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Royal Bank of Canada cut their price objective on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Loop Capital increased their price target on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, December 5th.

Samsara Price Performance

Samsara stock opened at $38.87 on Friday. The stock’s fifty day moving average is $47.39 and its two-hundred day moving average is $48.03. The stock has a market cap of $21.81 billion, a PE ratio of -82.71 and a beta of 1.63. Samsara has a 1-year low of $27.14 and a 1-year high of $61.90.

Insiders Place Their Bets

In other news, insider Adam Eltoukhy sold 11,343 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $39.76, for a total transaction of $450,997.68. Following the completion of the sale, the insider now directly owns 271,922 shares of the company’s stock, valued at $10,811,618.72. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sanjit Biswas sold 59,114 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $45.25, for a total value of $2,674,908.50. Following the completion of the transaction, the insider now owns 196,678 shares of the company’s stock, valued at $8,899,679.50. This trade represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,607,296 shares of company stock worth $70,334,047. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IOT. NewEdge Advisors LLC boosted its position in Samsara by 262.0% during the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after acquiring an additional 414 shares during the period. Jones Financial Companies Lllp bought a new position in shares of Samsara in the 4th quarter valued at approximately $31,000. Hobbs Group Advisors LLC acquired a new stake in shares of Samsara in the third quarter worth $34,000. IFP Advisors Inc boosted its holdings in Samsara by 290.3% during the fourth quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after acquiring an additional 598 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in Samsara in the 4th quarter valued at approximately $38,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

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.