Samsara (NYSE:IOT) Reaches New 52-Week High at $49.70

Samsara Inc. (NYSE:IOT)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $49.70 and last traded at $49.70, with a volume of 4928 shares. The stock had previously closed at $49.39.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Truist Financial raised their price target on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. Loop Capital raised their price objective on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. TD Cowen upped their target price on shares of Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Morgan Stanley raised their price target on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets upped their price objective on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Friday, September 6th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.07.

Samsara Stock Down 0.5 %

The company has a market cap of $27.07 billion, a P/E ratio of -98.78 and a beta of 1.50. The business has a fifty day simple moving average of $40.39 and a two-hundred day simple moving average of $37.00.

Samsara (NYSE:IOT) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter last year, the firm posted ($0.11) earnings per share. The firm’s revenue was up 36.9% compared to the same quarter last year. On average, equities analysts predict that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sanjit Biswas sold 96,000 shares of the business’s 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 filing with the SEC, which is available at this hyperlink. In related news, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the transaction, the chief executive officer now owns 1,466,299 shares in the company, valued at approximately $43,241,157.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the sale, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,049,232 shares of company stock valued at $82,346,868. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cim LLC purchased a new position in Samsara in the second quarter worth about $1,049,000. Nemes Rush Group LLC purchased a new position in Samsara during the second quarter worth $45,000. Creative Planning increased its position in Samsara by 16.1% during the second quarter. Creative Planning now owns 147,457 shares of the company’s stock valued at $4,969,000 after acquiring an additional 20,482 shares during the last quarter. MBB Public Markets I LLC raised its stake in shares of Samsara by 107.9% in the second quarter. MBB Public Markets I LLC now owns 13,266 shares of the company’s stock valued at $447,000 after acquiring an additional 6,885 shares during the period. Finally, APG Asset Management N.V. bought a new stake in shares of Samsara in the 2nd quarter worth about $745,000. 89.39% of the stock is 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.