Samsara (NYSE:IOT) Stock Price Up 6.2%

Shares of Samsara Inc. (NYSE:IOTGet Rating) rose 6.2% during trading on Friday . The company traded as high as $11.90 and last traded at $11.86. Approximately 26,642 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 1,661,796 shares. The stock had previously closed at $11.17.

IOT has been the subject of a number of recent research reports. Cowen dropped their target price on Samsara to $20.00 in a report on Friday, May 27th. Morgan Stanley dropped their target price on Samsara from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, March 3rd. The Goldman Sachs Group cut Samsara from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $27.00 to $16.00 in a report on Monday. Royal Bank of Canada dropped their target price on Samsara from $28.00 to $18.00 in a report on Tuesday, May 31st. Finally, Wells Fargo & Company dropped their target price on Samsara to $20.00 and set an “overweight” rating for the company in a report on Wednesday, May 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.78.

The stock has a fifty day moving average of $11.42 and a two-hundred day moving average of $16.42.

Samsara (NYSE:IOTGet Rating) last announced its quarterly earnings data on Thursday, June 2nd. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The business had revenue of $142.65 million during the quarter, compared to analysts’ expectations of $131.70 million. As a group, equities research analysts predict that Samsara Inc. will post -0.57 EPS for the current year.

In other news, insider Kiren Sekar sold 70,062 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $10.99, for a total value of $769,981.38. Following the transaction, the insider now directly owns 264,045 shares in the company, valued at approximately $2,901,854.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several large investors have recently bought and sold shares of IOT. Warburg Pincus LLC bought a new position in shares of Samsara in the 1st quarter worth $113,432,000. General Atlantic L.P. bought a new position in Samsara during the fourth quarter worth about $190,604,000. Dragoneer Investment Group LLC bought a new position in Samsara during the fourth quarter worth about $108,162,000. Greenoaks Capital Partners LLC lifted its holdings in Samsara by 911.0% during the first quarter. Greenoaks Capital Partners LLC now owns 4,119,911 shares of the company’s stock worth $66,001,000 after acquiring an additional 3,712,411 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new position in Samsara during the fourth quarter worth about $67,858,000. Institutional investors and hedge funds own 45.47% of the company’s stock.

Samsara Company Profile (NYSE:IOT)

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.

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