Samsara (NYSE:IOT) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Samsara (NYSE:IOT) from a sell rating to a hold rating in a report released on Friday morning.

IOT has been the subject of a number of other research reports. Royal Bank of Canada raised their target price on shares of Samsara from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Morgan Stanley raised their target price on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Evercore ISI upped their price objective on Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. Piper Sandler raised their price objective on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, Craig Hallum assumed coverage on Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.20.

Samsara Stock Up 1.8 %

Shares of IOT traded up $0.95 during trading hours on Friday, reaching $52.72. The stock had a trading volume of 2,127,391 shares, compared to its average volume of 2,208,654. The company has a market cap of $29.33 billion, a P/E ratio of -109.83 and a beta of 1.52. Samsara has a 52 week low of $23.12 and a 52 week high of $52.81. The firm has a 50-day moving average of $47.48 and a 200 day moving average of $40.26.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.11) EPS. As a group, equities analysts expect that Samsara will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Samsara

In other news, insider Adam Eltoukhy sold 9,308 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $50.64, for a total value of $471,357.12. Following the completion of the transaction, the insider now owns 396,784 shares of the company’s stock, valued at $20,093,141.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Samsara news, insider Adam Eltoukhy sold 9,308 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total transaction of $471,357.12. Following the completion of the transaction, the insider now owns 396,784 shares in the company, valued at approximately $20,093,141.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Bicket sold 93,212 shares of Samsara stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $39.92, for a total transaction of $3,721,023.04. Following the transaction, the insider now directly owns 76,800 shares of the company’s stock, valued at $3,065,856. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,864,730 shares of company stock worth $84,375,885. 60.04% of the stock is currently owned by insiders.

Institutional Trading of Samsara

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Resources Management Corp CT ADV increased its position in shares of Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Samsara during the second quarter valued at about $38,000. Nemes Rush Group LLC purchased a new position in Samsara during the second quarter worth about $45,000. UMB Bank n.a. lifted its position in shares of Samsara by 69.1% during the 3rd quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock worth $49,000 after buying an additional 418 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Samsara by 250.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after buying an additional 1,000 shares during the last quarter. 89.39% of the stock is 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.