Samsara (NYSE:IOT) Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Samsara (NYSE:IOT) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also recently weighed in on the stock. Evercore ISI lifted their price target on shares of Samsara from $40.00 to $42.00 and gave the stock an in-line rating in a research report on Friday, September 6th. BMO Capital Markets increased their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a market perform rating in a research note on Friday, September 6th. Wolfe Research reissued an outperform rating and issued a $44.00 target price on shares of Samsara in a research note on Friday, June 28th. Morgan Stanley lifted their price target on Samsara from $38.00 to $40.00 and gave the stock an equal weight rating in a report on Friday, September 6th. Finally, Loop Capital lifted their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock a buy rating in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $42.07.

Samsara Stock Performance

Shares of IOT opened at $45.66 on Wednesday. The company has a market cap of $25.15 billion, a price-to-earnings ratio of -91.32 and a beta of 1.50. The stock has a fifty day moving average price of $42.21 and a two-hundred day moving average price of $37.63. Samsara has a 52-week low of $21.48 and a 52-week high of $50.07.

Samsara (NYSE:IOT) last released 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. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same period in the prior year, the company posted ($0.11) EPS. The company’s revenue was up 36.9% compared to the same quarter last year. As a group, research analysts predict that Samsara will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a filing with the SEC, which is available at this link. In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO James Andrew Munk sold 1,093 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the sale, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. The disclosure for this sale can be found here. Insiders sold 2,036,034 shares of company stock valued at $85,086,127 over the last quarter. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Central Pacific Bank Trust Division increased its position in shares of Samsara by 913.3% during the third quarter. Central Pacific Bank Trust Division now owns 14,379 shares of the company’s stock worth $692,000 after buying an additional 12,960 shares during the period. Cim LLC bought a new stake in shares of Samsara during the second quarter valued at approximately $1,049,000. Nemes Rush Group LLC acquired a new position in Samsara during the second quarter worth $45,000. Creative Planning raised its holdings in shares of Samsara by 16.1% in the 2nd quarter. Creative Planning now owns 147,457 shares of the company’s stock worth $4,969,000 after acquiring an additional 20,482 shares during the last quarter. Finally, MBB Public Markets I LLC raised its stake in shares of Samsara by 107.9% in the second quarter. MBB Public Markets I LLC now owns 13,266 shares of the company’s stock worth $447,000 after purchasing an additional 6,885 shares during the last quarter. 89.39% 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.