Samsara (NYSE:IOT) Upgraded to Hold at StockNews.com

Samsara (NYSE:IOT) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Loop Capital initiated coverage on Samsara in a research report on Thursday, April 18th. They set a “buy” rating and a $42.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Samsara has an average rating of “Moderate Buy” and an average price target of $32.60.

Samsara Price Performance

IOT stock opened at $39.37 on Friday. Samsara has a 1-year low of $18.24 and a 1-year high of $42.28. The business has a 50-day moving average price of $36.34 and a 200 day moving average price of $33.64. The company has a market capitalization of $21.67 billion, a P/E ratio of -74.28 and a beta of 1.58.

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

Insider Transactions at Samsara

In other Samsara news, CAO James Andrew Munk sold 9,714 shares of Samsara stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $35.46, for a total value of $344,458.44. Following the completion of the sale, the chief accounting officer now owns 307,185 shares in the company, valued at approximately $10,892,780.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sanjit Biswas sold 96,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $33.20, for a total transaction of $3,187,200.00. Following the completion of the sale, the chief executive officer now directly owns 19,200 shares of the company’s stock, valued at approximately $637,440. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO James Andrew Munk sold 9,714 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $35.46, for a total value of $344,458.44. Following the sale, the chief accounting officer now owns 307,185 shares of the company’s stock, valued at approximately $10,892,780.10. The disclosure for this sale can be found here. Insiders sold a total of 1,837,779 shares of company stock valued at $66,507,854 in the last ninety days. Corporate insiders own 66.14% of the company’s stock.

Institutional Trading of Samsara

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in shares of Samsara by 22.6% during the third quarter. Bank of New York Mellon Corp now owns 175,682 shares of the company’s stock worth $4,429,000 after purchasing an additional 32,369 shares during the period. Principal Financial Group Inc. raised its position in shares of Samsara by 608.4% during the third quarter. Principal Financial Group Inc. now owns 745,565 shares of the company’s stock valued at $18,796,000 after buying an additional 640,321 shares during the last quarter. Victory Capital Management Inc. grew its position in Samsara by 35.8% during the third quarter. Victory Capital Management Inc. now owns 97,178 shares of the company’s stock worth $2,450,000 after buying an additional 25,597 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in shares of Samsara during the third quarter valued at approximately $910,000. Finally, New York State Common Retirement Fund lifted its position in Samsara by 20.2% in the third quarter. New York State Common Retirement Fund now owns 94,575 shares of the company’s stock worth $2,384,000 after purchasing an additional 15,895 shares during the period. 89.39% of the stock is currently owned by institutional investors and hedge funds.

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.