Samsara (NYSE:IOT) Receives “Buy” Rating from Loop Capital

Samsara (NYSE:IOT)‘s stock had its “buy” rating reaffirmed by research analysts at Loop Capital in a note issued to investors on Friday, Benzinga reports. They currently have a $42.00 price target on the stock. Loop Capital’s target price would suggest a potential upside of 24.63% from the stock’s previous close.

Several other brokerages have also recently weighed in on IOT. Piper Sandler restated a “neutral” rating and set a $36.00 target price (down from $41.00) on shares of Samsara in a report on Friday, June 7th. BMO Capital Markets restated a “market perform” rating and set a $40.00 target price on shares of Samsara in a report on Tuesday, June 11th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Saturday, May 25th. Evercore ISI dropped their target price on Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a report on Friday, June 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Samsara in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Samsara currently has an average rating of “Moderate Buy” and a consensus price target of $37.17.

Samsara Trading Up 3.3 %

Shares of Samsara stock opened at $33.70 on Friday. The firm has a market capitalization of $18.56 billion, a PE ratio of -67.40 and a beta of 1.51. The business’s 50-day moving average price is $35.02 and its 200-day moving average price is $34.27. Samsara has a 12 month low of $21.48 and a 12 month high of $42.28.

Insider Activity

In other news, CEO Sanjit Biswas sold 35,320 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $40.90, for a total value of $1,444,588.00. Following the completion of the transaction, the chief executive officer now owns 1,645,392 shares in the company, valued at approximately $67,296,532.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Marc L. Andreessen sold 277,484 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 35,320 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $40.90, for a total value of $1,444,588.00. Following the transaction, the chief executive officer now directly owns 1,645,392 shares of the company’s stock, valued at approximately $67,296,532.80. The disclosure for this sale can be found here. Insiders sold a total of 1,707,743 shares of company stock worth $58,180,086 in the last quarter. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its position in Samsara by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock valued at $123,000 after buying an additional 280 shares in the last quarter. Janney Capital Management LLC increased its holdings in shares of Samsara by 3.1% in the 4th quarter. Janney Capital Management LLC now owns 10,348 shares of the company’s stock worth $345,000 after purchasing an additional 311 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after purchasing an additional 381 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Samsara by 6.8% in the 1st quarter. Cetera Advisors LLC now owns 7,805 shares of the company’s stock worth $295,000 after purchasing an additional 497 shares in the last quarter. Finally, Ulland Investment Advisors LLC increased its holdings in shares of Samsara by 33.6% in the 1st quarter. Ulland Investment Advisors LLC now owns 1,990 shares of the company’s stock worth $75,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 89.39% 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.