Samsara (NYSE:IOT) Coverage Initiated at Berenberg Bank

Research analysts at Berenberg Bank initiated coverage on shares of Samsara (NYSE:IOT) in a research report issued on Monday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $57.00 price target on the stock. Berenberg Bank’s price objective would suggest a potential upside of 8.43% from the company’s current price.

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company boosted their target price on shares of Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Piper Sandler raised their price target on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Finally, Loop Capital increased their price objective on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.67.

Samsara Stock Performance

Shares of IOT opened at $52.57 on Monday. Samsara has a 1 year low of $27.14 and a 1 year high of $57.51. The stock has a market capitalization of $29.50 billion, a PE ratio of -111.85 and a beta of 1.61. The stock has a 50-day simple moving average of $47.71 and a 200-day simple moving average of $46.03.

Insider Transactions at Samsara

In other news, insider Adam Eltoukhy sold 9,307 shares of Samsara stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $49.55, for a total value of $461,161.85. Following the sale, the insider now owns 396,784 shares of the company’s stock, valued at $19,660,647.20. The trade was a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dominic Phillips sold 20,136 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $50.45, for a total transaction of $1,015,861.20. Following the transaction, the insider now directly owns 882,664 shares of the company’s stock, valued at $44,530,398.80. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,529,135 shares of company stock worth $74,564,625. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its position in shares of Samsara by 23.4% during the 3rd quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Samsara by 1,909.4% in the third quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock valued at $90,026,000 after purchasing an additional 1,777,757 shares during the period. FMR LLC boosted its holdings in Samsara by 15.6% during the third quarter. FMR LLC now owns 11,890,600 shares of the company’s stock worth $572,176,000 after buying an additional 1,604,822 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Samsara by 84.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,608,921 shares of the company’s stock worth $77,421,000 after buying an additional 734,619 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Samsara by 55.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,829,033 shares of the company’s stock valued at $88,013,000 after buying an additional 650,982 shares in the last quarter. Institutional investors and hedge funds 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.