Samsara Inc. (NYSE:IOT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Samsara Inc. (NYSE:IOT) have been assigned an average rating of “Hold” from the fourteen analysts that are currently covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $51.29.

Several analysts have recently commented on the stock. BNP Paribas assumed coverage on shares of Samsara in a research note on Tuesday, October 8th. They set a “neutral” rating and a $46.00 price target on the stock. Morgan Stanley increased their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Truist Financial boosted their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Craig Hallum assumed coverage on Samsara in a report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price target on the stock. Finally, TD Cowen boosted their price objective on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, October 11th.

Samsara Price Performance

Shares of NYSE:IOT opened at $43.55 on Tuesday. The business’s fifty day moving average price is $48.80 and its two-hundred day moving average price is $44.71. Samsara has a fifty-two week low of $27.14 and a fifty-two week high of $57.51. The stock has a market capitalization of $24.44 billion, a price-to-earnings ratio of -92.66 and a beta of 1.59.

Insider Buying and Selling

In related news, insider Sanjit Biswas sold 81,163 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $43.39, for a total transaction of $3,521,662.57. Following the completion of the transaction, the insider now directly owns 130,365 shares of the company’s stock, valued at approximately $5,656,537.35. This represents a 38.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 9,307 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.55, for a total value of $461,161.85. Following the transaction, the insider now directly owns 396,784 shares in the company, valued at $19,660,647.20. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,379,652 shares of company stock worth $67,821,851 over the last ninety days. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently bought and sold shares of the business. Resources Management Corp CT ADV increased its holdings in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in Samsara during the third quarter worth $34,000. National Bank of Canada FI acquired a new position in shares of Samsara in the second quarter valued at $38,000. Nemes Rush Group LLC bought a new position in shares of Samsara in the second quarter valued at about $45,000. Finally, Continuum Advisory LLC lifted its stake in shares of Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares during the last quarter. Institutional investors and hedge funds own 96.02% 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.