Samsara Inc. (NYSE:IOT) Receives Average Recommendation of “Hold” from Analysts

Samsara Inc. (NYSE:IOT) has earned an average rating of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $51.29.

Several brokerages recently issued reports on IOT. JPMorgan Chase & Co. increased their price objective on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler raised their target price on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada raised their target price on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. TD Cowen raised their target price on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Morgan Stanley raised their target price on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th.

Samsara Trading Up 2.0 %

Shares of NYSE:IOT opened at $46.75 on Tuesday. Samsara has a 1 year low of $27.14 and a 1 year high of $57.51. The business has a fifty day simple moving average of $48.40 and a 200 day simple moving average of $44.88. The firm has a market cap of $26.24 billion, a price-to-earnings ratio of -99.48 and a beta of 1.59.

Insider Activity

In related news, insider Dominic Phillips sold 20,137 shares of Samsara stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $46.39, for a total transaction of $934,155.43. Following the sale, the insider now directly owns 882,664 shares of the company’s stock, valued at $40,946,782.96. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Eltoukhy sold 9,307 shares of Samsara stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.55, for a total value of $461,161.85. Following the sale, the insider now directly owns 396,784 shares in the company, valued at approximately $19,660,647.20. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,606,542 shares of company stock valued at $77,988,715. 60.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Samsara

A number of institutional investors have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. boosted its holdings in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock valued at $1,628,592,000 after purchasing an additional 6,411,178 shares in the last quarter. FMR LLC boosted its holdings in Samsara by 15.6% during the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock valued at $572,176,000 after purchasing an additional 1,604,822 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Samsara by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after purchasing an additional 500,400 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in Samsara by 4.1% during the third quarter. Westfield Capital Management Co. LP now owns 3,506,681 shares of the company’s stock valued at $168,741,000 after purchasing an additional 138,702 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Samsara by 9.5% during the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock valued at $109,307,000 after purchasing an additional 196,867 shares in the last quarter. 96.02% of the stock is 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.