Samsara Inc. (NYSE:IOT) Receives Consensus Rating of “Moderate Buy” from Brokerages

Samsara Inc. (NYSE:IOT) has been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are currently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $49.60.

Several equities analysts recently commented on IOT shares. JPMorgan Chase & Co. raised their target price on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Craig Hallum reiterated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Loop Capital raised their price target on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Royal Bank of Canada reduced their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Finally, BMO Capital Markets upgraded Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 target price for the company in a research report on Monday, March 10th.

Samsara Stock Down 4.4 %

Shares of IOT opened at $38.87 on Friday. The company has a 50-day moving average price of $47.39 and a two-hundred day moving average price of $48.03. The stock has a market cap of $21.81 billion, a price-to-earnings ratio of -82.71 and a beta of 1.63. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90.

Insiders Place Their Bets

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $34.19, for a total transaction of $10,015,310.89. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sanjit Biswas sold 94,020 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $42.68, for a total value of $4,012,773.60. Following the transaction, the insider now directly owns 114,000 shares in the company, valued at $4,865,520. The trade was a 45.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,607,296 shares of company stock valued at $70,334,047 in the last quarter. 60.04% of the stock is currently owned by insiders.

Institutional Trading of Samsara

Hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC bought a new position in Samsara during the third quarter worth about $644,000. Daiwa Securities Group Inc. grew its stake in Samsara by 12.9% during the third quarter. Daiwa Securities Group Inc. now owns 15,800 shares of the company’s stock worth $760,000 after buying an additional 1,800 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Samsara by 19.2% during the 3rd quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after acquiring an additional 250 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Samsara by 14.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 47,723 shares of the company’s stock valued at $2,296,000 after purchasing an additional 5,897 shares during the last quarter. Finally, Bridgewater Associates LP bought a new position in Samsara in the third quarter valued at about $2,308,000. 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.