Samsara Inc. (NYSE:IOT) Receives $49.47 Average PT from Analysts

Samsara Inc. (NYSE:IOT) has received an average rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $49.47.

A number of research firms recently weighed in on IOT. Wells Fargo & Company lowered their price target on shares of Samsara from $51.00 to $48.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Berenberg Bank started coverage on Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 target price for the company. Cowen reaffirmed a “buy” rating on shares of Samsara in a research report on Friday, March 7th. Royal Bank of Canada reduced their price target on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Finally, Piper Sandler restated an “overweight” rating and set a $53.00 price objective (up previously from $44.00) on shares of Samsara in a research note on Wednesday, May 14th.

Samsara Trading Down 3.4%

Shares of IOT stock opened at $45.69 on Monday. The company has a market cap of $26.01 billion, a PE ratio of -97.22 and a beta of 1.70. The company’s fifty day simple moving average is $40.07 and its 200-day simple moving average is $45.79. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90.

Insider Buying and Selling

In related news, insider Adam Eltoukhy sold 3,903 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the sale, the insider now owns 320,936 shares of the company’s stock, valued at $10,934,289.52. The trade was a 1.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $34.19, for a total transaction of $10,015,310.89. The disclosure for this sale can be found here. Insiders sold a total of 1,230,678 shares of company stock valued at $47,736,556 over the last ninety days. 60.04% of the stock is owned by company insiders.

Institutional Trading of Samsara

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GLOBALT Investments LLC GA raised its position in shares of Samsara by 0.3% in the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after acquiring an additional 182 shares during the period. Gerber Kawasaki Wealth & Investment Management increased its stake in Samsara by 0.5% in the first quarter. Gerber Kawasaki Wealth & Investment Management now owns 54,000 shares of the company’s stock valued at $2,070,000 after purchasing an additional 250 shares in the last quarter. Nemes Rush Group LLC increased its stake in Samsara by 7.8% in the first quarter. Nemes Rush Group LLC now owns 3,597 shares of the company’s stock valued at $138,000 after purchasing an additional 260 shares in the last quarter. Tidal Investments LLC raised its holdings in Samsara by 4.6% in the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company’s stock worth $280,000 after purchasing an additional 281 shares during the period. Finally, Continuum Advisory LLC boosted its position in shares of Samsara by 32.1% during the fourth quarter. Continuum Advisory LLC now owns 1,161 shares of the company’s stock worth $51,000 after purchasing an additional 282 shares in 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.