Samsara (NYSE:IOT) Downgraded to “Sell” at StockNews.com

Samsara (NYSE:IOT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other analysts have also commented on IOT. Truist Financial raised their price target on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lifted their price target on Samsara from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Loop Capital increased their price target on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Morgan Stanley boosted their price objective on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Finally, TD Cowen upped their target price on Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Samsara has a consensus rating of “Hold” and a consensus target price of $42.33.

Samsara Stock Performance

NYSE:IOT opened at $50.59 on Friday. The firm’s fifty day moving average is $43.48 and its two-hundred day moving average is $38.08. The firm has a market cap of $27.86 billion, a price-to-earnings ratio of -101.17 and a beta of 1.52. Samsara has a one year low of $21.48 and a one year high of $50.66.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The firm had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The company’s revenue was up 36.9% compared to the same quarter last year. As a group, equities research analysts predict that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Samsara

In other Samsara news, CEO Sanjit Biswas sold 59,112 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $38.05, for a total transaction of $2,249,211.60. Following the transaction, the chief executive officer now owns 1,311,187 shares of the company’s stock, valued at approximately $49,890,665.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Adam Eltoukhy sold 9,471 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09. Following the completion of the sale, the insider now owns 465,967 shares in the company, valued at $17,608,892.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjit Biswas sold 59,112 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $38.05, for a total value of $2,249,211.60. Following the completion of the transaction, the chief executive officer now owns 1,311,187 shares in the company, valued at $49,890,665.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,049,030 shares of company stock valued at $86,959,176. 60.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Samsara

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its position in shares of Samsara by 18.1% during the 2nd quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after purchasing an additional 4,207,974 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $666,584,000 after acquiring an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after acquiring an additional 1,841,149 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Samsara by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after acquiring an additional 500,400 shares during the period. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Samsara by 12.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after acquiring an additional 243,170 shares during the last quarter. Hedge funds and other institutional investors own 89.39% 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.