Samsara (NYSE:IOT) Now Covered by Loop Capital

Loop Capital initiated coverage on shares of Samsara (NYSE:IOT) in a report issued on Thursday, MarketBeat reports. The brokerage set a “buy” rating and a $42.00 price target on the stock. Loop Capital’s price objective points to a potential upside of 39.30% from the company’s current price.

Separately, StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $32.60.

Samsara Price Performance

Shares of IOT stock opened at $30.15 on Thursday. The firm has a 50-day moving average of $34.74 and a 200-day moving average of $31.18. Samsara has a one year low of $16.63 and a one year high of $40.54. The company has a market cap of $16.60 billion, a P/E ratio of -56.89 and a beta of 1.56.

Samsara (NYSE:IOT) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). Samsara had a negative net margin of 30.59% and a negative return on equity of 22.90%. The business had revenue of $276.27 million during the quarter, compared to the consensus estimate of $258.56 million. As a group, research analysts expect that Samsara will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $32.50, for a total transaction of $3,120,000.00. Following the completion of the transaction, the chief executive officer now owns 754,335 shares in the company, valued at approximately $24,515,887.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $32.50, for a total value of $3,120,000.00. Following the sale, the chief executive officer now owns 754,335 shares of the company’s stock, valued at $24,515,887.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Adam Eltoukhy sold 9,344 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $34.75, for a total transaction of $324,704.00. Following the completion of the transaction, the insider now directly owns 431,439 shares of the company’s stock, valued at $14,992,505.25. The disclosure for this sale can be found here. Insiders have sold a total of 1,697,460 shares of company stock worth $58,277,505 over the last ninety days. 66.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Samsara

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Samsara by 40.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 889,656 shares of the company’s stock worth $22,428,000 after purchasing an additional 254,473 shares during the period. Creative Planning purchased a new position in Samsara during the third quarter valued at approximately $5,878,000. CHURCHILL MANAGEMENT Corp bought a new stake in Samsara during the 4th quarter worth approximately $854,000. Principal Financial Group Inc. lifted its stake in Samsara by 608.4% in the 3rd quarter. Principal Financial Group Inc. now owns 745,565 shares of the company’s stock worth $18,796,000 after purchasing an additional 640,321 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Samsara by 54.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 105,316 shares of the company’s stock valued at $2,656,000 after purchasing an additional 37,316 shares during the period. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

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.