Samsara (NYSE:IOT) Upgraded at StockNews.com

Samsara (NYSE:IOT) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research firms have also weighed in on IOT. Wells Fargo & Company lifted their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Craig Hallum started coverage on shares of Samsara in a research report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 target price for the company. Morgan Stanley raised their price target on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. Piper Sandler raised their price target on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada upped their target price on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.20.

Samsara Trading Up 1.8 %

NYSE IOT traded up $0.95 during trading on Friday, reaching $52.72. The company’s stock had a trading volume of 2,127,391 shares, compared to its average volume of 2,208,654. The business has a 50-day moving average price of $47.48 and a 200-day moving average price of $40.31. Samsara has a 1-year low of $23.12 and a 1-year high of $52.81. The stock has a market capitalization of $29.33 billion, a PE ratio of -109.83 and a beta of 1.52.

Samsara (NYSE:IOT) last released its quarterly earnings data 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 return on equity of 20.39% and a negative net margin of 24.19%. The business had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. During the same period in the previous year, the business posted ($0.11) earnings per share. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. As a group, analysts expect that Samsara will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 78,295 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $40.50, for a total value of $3,170,947.50. Following the transaction, the chief executive officer now directly owns 908,004 shares in the company, valued at $36,774,162. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjit Biswas sold 78,295 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $40.50, for a total value of $3,170,947.50. Following the completion of the transaction, the chief executive officer now owns 908,004 shares of the company’s stock, valued at $36,774,162. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,864,730 shares of company stock valued at $84,375,885 in the last ninety days. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. grew its stake in 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 purchasing an additional 6,411,178 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Samsara by 102.1% during the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock valued at $288,266,000 after acquiring an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Samsara by 18.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock worth $666,584,000 after purchasing an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Samsara by 12.1% during the first quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after purchasing an additional 1,841,149 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Samsara in the second quarter worth about $29,464,000. 89.39% of the stock is owned by institutional investors and hedge funds.

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.