Samsara Inc. (NYSE:IOT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Samsara Inc. (NYSE:IOT) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $36.55.

IOT has been the subject of a number of research reports. Evercore ISI dropped their target price on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a report on Friday, June 7th. BMO Capital Markets reissued a “market perform” rating and set a $40.00 price target on shares of Samsara in a research report on Tuesday, June 11th. Piper Sandler reissued a “neutral” rating and set a $36.00 price target (down previously from $41.00) on shares of Samsara in a research report on Friday, June 7th. Bank of America initiated coverage on shares of Samsara in a research report on Thursday, June 20th. They set a “buy” rating and a $37.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Samsara in a research report on Wednesday.

Samsara Stock Performance

Shares of NYSE IOT opened at $32.70 on Friday. Samsara has a one year low of $21.48 and a one year high of $42.28. The firm has a market cap of $18.01 billion, a PE ratio of -65.40 and a beta of 1.51. The firm has a fifty day moving average of $34.95 and a 200 day moving average of $34.27.

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 35,320 shares of the company’s stock in a transaction dated 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 owns 1,645,392 shares of the company’s stock, valued at $67,296,532.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Samsara news, insider John Bicket sold 35,327 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $40.90, for a total transaction of $1,444,874.30. Following the sale, the insider now directly owns 2,097,135 shares in the company, valued at $85,772,821.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjit Biswas sold 35,320 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $40.90, for a total transaction of $1,444,588.00. Following the sale, the chief executive officer now owns 1,645,392 shares in the company, valued at $67,296,532.80. The disclosure for this sale can be found here. Insiders have sold 1,707,743 shares of company stock valued at $58,180,086 over the last 90 days. 60.04% of the stock is owned by insiders.

Institutional Trading of Samsara

Institutional investors and hedge funds have recently bought and sold shares of the business. 1832 Asset Management L.P. increased its stake in shares of Samsara by 102.1% during the first quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after buying an additional 3,853,400 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Samsara by 18.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after buying an additional 2,797,326 shares during the period. Vanguard Group Inc. increased its stake in shares of Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after buying an additional 1,841,149 shares during the period. Baillie Gifford & Co. increased its stake in Samsara by 3.7% in the first quarter. Baillie Gifford & Co. now owns 23,225,238 shares of the company’s stock valued at $877,682,000 after purchasing an additional 827,848 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Samsara by 1,601.3% in the first quarter. Blair William & Co. IL now owns 744,929 shares of the company’s stock valued at $28,151,000 after purchasing an additional 701,144 shares during the last quarter. 89.39% of the stock is currently owned by hedge funds and other institutional investors.

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.