Samsara (NYSE:IOT) Price Target Lowered to $51.00 at Wells Fargo & Company

Samsara (NYSE:IOT) had its price target decreased by Wells Fargo & Company from $55.00 to $51.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Loop Capital raised their price objective on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. raised their target price on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Truist Financial raised their target price on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Finally, Berenberg Bank started coverage on shares of Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.60.

Samsara Trading Down 15.7 %

IOT opened at $35.32 on Friday. The company has a market cap of $19.82 billion, a price-to-earnings ratio of -75.14 and a beta of 1.63. The company’s 50 day moving average is $49.21 and its 200 day moving average is $48.29. Samsara has a 12-month low of $27.14 and a 12-month high of $61.90.

Insider Activity

In related news, insider Sanjit Biswas sold 170,416 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $45.30, for a total value of $7,719,844.80. Following the sale, the insider now owns 1,175,569 shares in the company, valued at approximately $53,253,275.70. The trade was a 12.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 23,960 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $43.81, for a total transaction of $1,049,687.60. Following the completion of the sale, the insider now owns 331,106 shares in the company, valued at $14,505,753.86. This represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,389,912 shares of company stock worth $65,081,064 over the last quarter. Insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Large investors have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after buying an additional 6,411,178 shares during the period. FMR LLC boosted its stake in Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after buying an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC purchased a new position in Samsara during the fourth quarter worth $112,041,000. Norges Bank purchased a new position in Samsara during the fourth quarter worth $106,274,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after buying an additional 2,148,081 shares during the period. Institutional investors own 96.02% 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.