Samsara (NYSE:IOT) Trading Down 4.2% – Here’s Why

Samsara Inc. (NYSE:IOT) traded down 4.2% on Tuesday . The stock traded as low as $46.96 and last traded at $47.08. 939,855 shares changed hands during trading, a decline of 74% from the average session volume of 3,662,560 shares. The stock had previously closed at $49.14.

Analyst Ratings Changes

A number of research firms have recently commented on IOT. BNP Paribas began coverage on Samsara in a research report on Tuesday, October 8th. They set a “neutral” rating and a $46.00 target price for the company. StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets lifted their price target on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Loop Capital raised their price objective on Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Evercore ISI lifted their target price on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Samsara has a consensus rating of “Hold” and an average target price of $43.31.

Samsara Stock Performance

The stock has a market cap of $25.68 billion, a P/E ratio of -94.20 and a beta of 1.52. The firm’s 50 day moving average is $45.29 and its 200 day moving average is $38.74.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 last year, the company earned ($0.11) earnings per share. The company’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, analysts expect that Samsara Inc. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Adam Eltoukhy sold 9,308 shares of the firm’s stock in a transaction 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 in the company, valued at $20,093,141.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 directly owns 396,784 shares of the company’s stock, valued at approximately $20,093,141.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sanjit Biswas sold 65,605 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the completion of the sale, the chief executive officer now directly owns 1,112,694 shares in the company, valued at $40,969,393.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,849,061 shares of company stock valued at $80,282,052. Insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

A number of hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. lifted its holdings in Samsara by 9.4% in the first quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after acquiring an additional 280 shares during the period. UMB Bank n.a. boosted its holdings in Samsara by 69.1% during the third 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. Resources Management Corp CT ADV increased its holdings in Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Samsara by 6.8% in the first quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after acquiring an additional 497 shares during the period. Finally, Capstone Wealth Management Group LLC boosted its stake in shares of Samsara by 2.3% during the 3rd quarter. Capstone Wealth Management Group LLC now owns 26,660 shares of the company’s stock worth $1,283,000 after acquiring an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.

Samsara Company Profile

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.