Samsara (NYSE:IOT) Cut to Sell at StockNews.com

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

IOT has been the topic of a number of other research reports. Evercore ISI increased their price objective on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Craig Hallum began coverage on shares of Samsara in a research note on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target on the stock. Truist Financial lifted their price objective on shares of Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their target price on Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Finally, BMO Capital Markets upped their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Samsara presently has a consensus rating of “Hold” and an average target price of $44.20.

Samsara Stock Performance

Samsara stock opened at $48.57 on Wednesday. The firm’s 50 day moving average price is $46.23 and its two-hundred day moving average price is $39.37. The firm has a market cap of $26.75 billion, a PE ratio of -97.14 and a beta of 1.52. Samsara has a twelve month low of $21.48 and a twelve month high of $51.53.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same period last year, the company earned ($0.11) earnings per share. Samsara’s quarterly revenue was up 36.9% compared to the same quarter last year. Equities analysts anticipate that Samsara will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sanjit Biswas sold 81,515 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total value of $3,019,315.60. Following the completion of the transaction, the chief executive officer now owns 96,000 shares in the company, valued at approximately $3,555,840. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 81,515 shares of Samsara stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the sale, the chief executive officer now directly owns 96,000 shares of the company’s stock, valued at approximately $3,555,840. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. Insiders have sold 1,813,824 shares of company stock worth $79,970,545 over the last 90 days. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several large investors have recently made changes to their positions in IOT. Resources Management Corp CT ADV grew its stake in Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after buying an additional 490 shares during the last quarter. UMB Bank n.a. grew its position in Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after acquiring an additional 418 shares during the last quarter. National Bank of Canada FI acquired a new stake in Samsara during the 2nd quarter valued at $38,000. Nemes Rush Group LLC bought a new position in Samsara in the 2nd quarter valued at $45,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Samsara by 250.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 89.39% of the company’s stock.

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.