Samsara (NYSE:IOT) Sees Large Volume Increase

Shares of Samsara Inc. (NYSE:IOTGet Free Report) saw unusually-high trading volume on Wednesday . Approximately 3,453,636 shares traded hands during mid-day trading, a decline of 9% from the previous session’s volume of 3,796,319 shares.The stock last traded at $35.96 and had previously closed at $36.80.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IOT shares. The Goldman Sachs Group lifted their price objective on Samsara from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, December 1st. BMO Capital Markets boosted their price objective on shares of Samsara from $28.00 to $32.00 and gave the company a “market perform” rating in a research report on Friday, December 1st. Wells Fargo & Company increased their target price on shares of Samsara from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, December 1st. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised their price target on Samsara from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, December 1st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Samsara presently has a consensus rating of “Hold” and a consensus target price of $31.56.

Read Our Latest Stock Report on Samsara

Samsara Stock Performance

The company’s 50-day moving average is $33.88 and its 200 day moving average is $30.14.

Insider Buying and Selling at Samsara

In other news, Director Susan L. Bostrom sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $35.22, for a total transaction of $704,400.00. Following the transaction, the director now directly owns 204,054 shares of the company’s stock, valued at $7,186,781.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sanjit Biswas sold 79,165 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $31.42, for a total transaction of $2,487,364.30. Following the transaction, the chief executive officer now directly owns 38,400 shares of the company’s stock, valued at approximately $1,206,528. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Bostrom sold 20,000 shares of the stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $35.22, for a total value of $704,400.00. Following the completion of the transaction, the director now directly owns 204,054 shares in the company, valued at approximately $7,186,781.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,729,919 shares of company stock worth $58,535,104. Insiders own 66.14% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new position in Samsara in the 4th quarter worth approximately $37,000. Fred Alger Management LLC bought a new stake in Samsara in the third quarter worth $28,000. Montag A & Associates Inc. raised its stake in Samsara by 1,200.0% during the fourth quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock valued at $43,000 after purchasing an additional 1,200 shares in the last quarter. Tradition Wealth Management LLC bought a new position in Samsara during the fourth quarter valued at $46,000. Finally, Ulland Investment Advisors LLC grew its stake in shares of Samsara by 67.4% in the 3rd quarter. Ulland Investment Advisors LLC now owns 1,490 shares of the company’s stock worth $38,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 52.47% of the company’s stock.

Samsara Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Samsara Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Samsara and related companies with MarketBeat.com's FREE daily email newsletter.