Samsara (NYSE:IOT) Given New $54.00 Price Target at Royal Bank of Canada

Samsara (NYSE:IOT) had its price target reduced by Royal Bank of Canada from $64.00 to $54.00 in a research report sent to investors on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on IOT. Berenberg Bank assumed coverage on Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target on the stock. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Raymond James assumed coverage on Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley lifted their price target on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Samsara presently has an average rating of “Hold” and an average target price of $49.60.

Samsara Trading Down 15.7 %

Shares of IOT stock opened at $35.32 on Friday. The business’s 50 day moving average is $49.21 and its two-hundred day moving average is $48.29. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90. The company has a market capitalization of $19.82 billion, a P/E ratio of -75.14 and a beta of 1.63.

Insider Buying and Selling

In other news, insider Dominic Phillips sold 20,136 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $50.45, for a total value of $1,015,861.20. Following the completion of the transaction, the insider now directly owns 882,664 shares of the company’s stock, valued at $44,530,398.80. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jonathan Chadwick sold 22,500 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $45.37, for a total value of $1,020,825.00. Following the completion of the transaction, the director now directly owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,389,912 shares of company stock valued at $65,081,064. 60.04% of the stock is owned by insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in shares of Samsara by 23.4% in the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after acquiring an additional 6,411,178 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Samsara by 4.3% in the fourth quarter. Vanguard Group Inc. now owns 20,978,589 shares of the company’s stock worth $916,555,000 after acquiring an additional 863,197 shares during the last quarter. FMR LLC raised its holdings in shares of Samsara by 24.0% in the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after acquiring an additional 2,852,575 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Samsara by 107.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after acquiring an additional 2,148,081 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake in Samsara by 4.1% in 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 during 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.