Samsara (NYSE:IOT) Sets New 12-Month High at $49.70

Samsara Inc. (NYSE:IOT)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $49.70 and last traded at $49.70, with a volume of 4928 shares traded. The stock had previously closed at $49.39.

Analyst Upgrades and Downgrades

IOT has been the topic of a number of research analyst reports. Bank of America boosted their target price on Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Wolfe Research reiterated an “outperform” rating and issued a $44.00 target price on shares of Samsara in a research report on Friday, June 28th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Wells Fargo & Company boosted their target price on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, TD Cowen boosted their target price on Samsara from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.07.

Samsara Trading Up 0.6 %

The stock has a 50 day moving average of $40.63 and a 200-day moving average of $37.13. The stock has a market capitalization of $27.41 billion, a P/E ratio of -99.52 and a beta of 1.50.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, September 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The business’s revenue was up 36.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) earnings per share. Research analysts anticipate that Samsara Inc. will post -0.34 EPS for the current year.

Insider Transactions at Samsara

In related news, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $34.23, for a total value of $3,286,080.00. Following the completion of the sale, the chief executive officer now owns 115,200 shares in the company, valued at $3,943,296. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Samsara news, major shareholder Gc Venture Viii-B, Llc sold 1,978 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $46.44, for a total value of $91,858.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $34.23, for a total value of $3,286,080.00. Following the completion of the sale, the chief executive officer now owns 115,200 shares of the company’s stock, valued at $3,943,296. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,953,232 shares of company stock valued at $79,515,828. 60.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Samsara

Several hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Samsara by 9.4% in the 1st quarter. Advisors Asset Management Inc. now owns 3,246 shares of the company’s stock worth $123,000 after buying an additional 280 shares during the period. Resources Management Corp CT ADV raised its position in shares of Samsara by 104.0% in the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares in the last quarter. Cetera Advisors LLC raised its position 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 acquiring an additional 497 shares in the last quarter. Ulland Investment Advisors LLC raised its position 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 acquiring an additional 500 shares in the last quarter. Finally, Sands Capital Ventures LLC raised its position in shares of Samsara by 18.7% in the 2nd quarter. Sands Capital Ventures LLC now owns 4,239 shares of the company’s stock worth $143,000 after acquiring an additional 669 shares in 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.