Samsara (NYSE:IOT) Shares Down 10.7%

Samsara Inc. (NYSE:IOTGet Rating) shares dropped 10.7% during mid-day trading on Thursday . The stock traded as low as $10.15 and last traded at $10.16. Approximately 37,822 shares traded hands during trading, a decline of 98% from the average daily volume of 1,630,769 shares. The stock had previously closed at $11.38.

IOT has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on Samsara to $20.00 and set an “overweight” rating for the company in a report on Wednesday, May 18th. The Goldman Sachs Group decreased their target price on Samsara from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Cowen dropped their price objective on Samsara from $31.00 to $27.00 in a research note on Thursday, March 3rd. Royal Bank of Canada dropped their target price on shares of Samsara from $28.00 to $18.00 in a report on Tuesday, May 31st. Finally, began coverage on shares of Samsara in a research note on Thursday, March 31st. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from, Samsara currently has a consensus rating of “Buy” and an average price target of $26.00.

The firm’s 50 day moving average price is $11.84.

Samsara (NYSE:IOTGet Rating) last issued its quarterly earnings results on Thursday, June 2nd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. On average, equities analysts expect that Samsara Inc. will post -0.46 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. bought a new stake in Samsara in the fourth quarter valued at $28,000. Bank of America Corp DE bought a new stake in Samsara in the fourth quarter valued at $38,000. Advisor Group Holdings Inc. acquired a new position in shares of Samsara during the fourth quarter valued at $93,000. Royal Bank of Canada lifted its stake in Samsara by 61.6% in the first quarter. Royal Bank of Canada now owns 6,127 shares of the company’s stock valued at $98,000 after buying an additional 2,335 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Samsara in the fourth quarter worth about $195,000. Institutional investors and hedge funds own 45.47% of the company’s stock.

About Samsara (NYSE:IOT)

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.

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