Royal Bank of Canada Lowers Samsara (NYSE:IOT) Price Target to $54.00

Samsara (NYSE:IOT) had its target price trimmed by Royal Bank of Canada from $64.00 to $54.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

IOT has been the subject of a number of other research reports. BMO Capital Markets lowered their price target on Samsara from $57.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday. Berenberg Bank assumed coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 price target for the company. Morgan Stanley boosted their price target on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price target on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday. Finally, Piper Sandler boosted their price target on Samsara from $40.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.60.

Samsara Trading Down 15.7 %

Samsara stock opened at $35.32 on Friday. The firm has a market capitalization of $19.82 billion, a P/E ratio of -75.14 and a beta of 1.63. The stock has a fifty day moving average price of $49.21 and a 200 day moving average price of $48.29. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90.

Insider Transactions at Samsara

In related news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $53.88, for a total value of $487,236.84. Following the completion of the transaction, the insider now owns 331,106 shares of the company’s stock, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dominic Phillips sold 20,136 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $50.45, for a total value of $1,015,861.20. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 1,389,912 shares of company stock valued at $65,081,064 over the last quarter. 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. Cim LLC boosted its holdings in Samsara by 1.3% in the fourth quarter. Cim LLC now owns 31,164 shares of the company’s stock valued at $1,362,000 after purchasing an additional 386 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Samsara in the fourth quarter valued at about $1,100,000. Windmill Hill Asset Management Ltd raised its stake in Samsara by 25.0% during the fourth quarter. Windmill Hill Asset Management Ltd now owns 5,974 shares of the company’s stock valued at $261,000 after buying an additional 1,195 shares in the last quarter. Toronto Dominion Bank raised its stake in Samsara by 10.9% during the fourth quarter. Toronto Dominion Bank now owns 29,435 shares of the company’s stock valued at $1,286,000 after buying an additional 2,899 shares in the last quarter. Finally, Cache Advisors LLC acquired a new stake in Samsara during the fourth quarter valued at approximately $227,000. Hedge funds and other institutional investors 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.