Truist Financial Cuts Samsara (NYSE:IOT) Price Target to $42.00

Samsara (NYSE:IOT) had its price objective reduced by Truist Financial from $50.00 to $42.00 in a research report released on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their target price on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. boosted their price objective on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Loop Capital raised their target price on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Piper Sandler boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Berenberg Bank initiated coverage on shares of Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.60.

Samsara Trading Down 15.7 %

Samsara stock opened at $35.32 on Friday. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90. The stock 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 price is $49.21 and its two-hundred day moving average price is $48.29.

Insider Buying and Selling at Samsara

In other news, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $45.92, for a total value of $5,160,489.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Dominic Phillips sold 20,136 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 882,664 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 1,389,912 shares of company stock valued at $65,081,064 in the last three months. 60.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Samsara

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IOT. Baillie Gifford & Co. grew its holdings 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 valued at $1,628,592,000 after acquiring an additional 6,411,178 shares in the last quarter. FMR LLC boosted its position in Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock valued at $644,129,000 after purchasing an additional 2,852,575 shares during the last quarter. Jordan Park Trust Co LLC purchased a new position in Samsara in the fourth quarter valued at about $112,041,000. Norges Bank acquired a new position in Samsara in the 4th quarter worth about $106,274,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Samsara by 107.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after purchasing an additional 2,148,081 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Samsara Company Profile

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.