Samsara (NYSE:IOT) Downgraded by StockNews.com

StockNews.com cut shares of Samsara (NYSE:IOT) from a hold rating to a sell rating in a report published on Wednesday.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Samsara from $42.00 to $46.00 and gave the stock an overweight rating in a report on Friday, September 6th. Truist Financial raised their price objective on Samsara from $35.00 to $40.00 and gave the company a hold rating in a research note on Friday, September 6th. Royal Bank of Canada boosted their target price on Samsara from $47.00 to $49.00 and gave the stock an outperform rating in a research note on Friday, September 6th. BMO Capital Markets lifted their price target on shares of Samsara from $40.00 to $44.00 and gave the company a market perform rating in a report on Friday, September 6th. Finally, Bank of America increased their price objective on shares of Samsara from $45.00 to $47.00 and gave the company a buy rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $42.07.

Samsara Stock Up 4.1 %

Shares of Samsara stock opened at $47.61 on Wednesday. The stock has a market capitalization of $26.22 billion, a price-to-earnings ratio of -95.21 and a beta of 1.52. Samsara has a twelve month low of $21.48 and a twelve month high of $50.07. The company has a 50-day simple moving average of $42.58 and a two-hundred day simple moving average of $37.76.

Samsara (NYSE:IOT) last posted its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. The business had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. Samsara’s revenue for the quarter was up 36.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total transaction of $14,894,042.28. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.83, for a total transaction of $4,495,680.00. Following the transaction, the chief executive officer now directly owns 57,600 shares in the company, valued at approximately $2,697,408. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,036,034 shares of company stock valued at $85,086,127. 60.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Resources Management Corp CT ADV boosted its stake in Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the last quarter. Quarry LP purchased a new position in shares of Samsara during the fourth quarter valued at approximately $37,000. National Bank of Canada FI bought a new stake in Samsara during the second quarter worth $38,000. Nemes Rush Group LLC purchased a new stake in Samsara in the 2nd quarter valued at $45,000. Finally, UniSuper Management Pty Ltd bought a new position in Samsara during the 1st quarter valued at $94,000. 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.