Samsara (NYSE:IOT) Raised to Overweight at Piper Sandler

Samsara (NYSE:IOT) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $50.00 price objective on the stock. Piper Sandler’s price target points to a potential upside of 39.24% from the stock’s previous close.

A number of other research analysts have also recently commented on IOT. JPMorgan Chase & Co. raised their price target on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada lowered their price objective on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company decreased their price target on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Berenberg Bank started coverage on Samsara in a research report on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price on the stock. Finally, Loop Capital lifted their price target on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Samsara has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Samsara Trading Up 5.4 %

NYSE IOT opened at $35.91 on Monday. The company has a market cap of $20.15 billion, a price-to-earnings ratio of -76.40 and a beta of 1.63. The company has a 50 day moving average of $48.67 and a 200-day moving average of $48.27. Samsara has a 1-year low of $27.14 and a 1-year high of $61.90.

Insider Activity at Samsara

In related news, insider Sanjit Biswas sold 170,416 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $45.30, for a total value of $7,719,844.80. Following the transaction, the insider now directly owns 1,175,569 shares of the company’s stock, valued at approximately $53,253,275.70. The trade was a 12.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam Eltoukhy sold 3,903 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $34.07, for a total transaction of $132,975.21. Following the transaction, the insider now directly owns 320,936 shares of the company’s stock, valued at $10,934,289.52. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,292,341 shares of company stock valued at $60,151,786 over the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Several hedge funds have recently made changes to their positions in IOT. Cim LLC boosted its holdings in shares of Samsara by 1.3% in the fourth quarter. Cim LLC now owns 31,164 shares of the company’s stock worth $1,362,000 after acquiring an additional 386 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Samsara in the fourth quarter valued at approximately $1,100,000. Windmill Hill Asset Management Ltd grew its stake in Samsara by 25.0% during the fourth quarter. Windmill Hill Asset Management Ltd now owns 5,974 shares of the company’s stock valued at $261,000 after acquiring an additional 1,195 shares in the last quarter. Toronto Dominion Bank increased its holdings in Samsara by 10.9% during the 4th quarter. Toronto Dominion Bank now owns 29,435 shares of the company’s stock worth $1,286,000 after acquiring an additional 2,899 shares during the period. Finally, Cache Advisors LLC purchased a new stake in Samsara in the 4th quarter worth approximately $227,000. 96.02% of the stock is currently owned by 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.