Samsara (NYSE:IOT) Coverage Initiated by Analysts at Loop Capital

Loop Capital assumed coverage on shares of Samsara (NYSE:IOT) in a report issued on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $42.00 target price on the stock.

Separately, StockNews.com raised Samsara from a sell rating to a hold rating in a research note on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Samsara presently has a consensus rating of Hold and an average target price of $32.60.

Samsara Trading Up 0.2 %

Shares of IOT opened at $31.02 on Thursday. Samsara has a one year low of $16.63 and a one year high of $40.54. The stock has a 50 day moving average price of $34.84 and a 200 day moving average price of $31.15.

Samsara (NYSE:IOT) last issued its earnings results on Thursday, March 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The company had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $258.56 million. Samsara had a negative return on equity of 22.90% and a negative net margin of 30.59%. Equities analysts anticipate that Samsara will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 92,216 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $31.93, for a total value of $2,944,456.88. Following the transaction, the chief executive officer now owns 662,119 shares in the company, valued at approximately $21,141,459.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sanjit Biswas sold 92,216 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $31.93, for a total value of $2,944,456.88. Following the transaction, the chief executive officer now owns 662,119 shares in the company, valued at approximately $21,141,459.67. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam Eltoukhy sold 10,422 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $30.78, for a total value of $320,789.16. Following the transaction, the insider now owns 535,149 shares in the company, valued at approximately $16,471,886.22. The disclosure for this sale can be found here. Insiders have sold 1,697,460 shares of company stock valued at $58,277,505 in the last quarter. Corporate insiders own 66.14% of the company’s stock.

Institutional Trading of Samsara

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp acquired a new stake in shares of Samsara in the 1st quarter valued at approximately $558,000. PNC Financial Services Group Inc. increased its position in Samsara by 141.6% during the first quarter. PNC Financial Services Group Inc. now owns 20,170 shares of the company’s stock worth $322,000 after buying an additional 11,820 shares in the last quarter. BlackRock Inc. increased its position in Samsara by 17.3% during the first quarter. BlackRock Inc. now owns 3,227,576 shares of the company’s stock worth $51,704,000 after buying an additional 477,013 shares in the last quarter. Vanguard Group Inc. increased its position in Samsara by 52.8% during the first quarter. Vanguard Group Inc. now owns 3,033,132 shares of the company’s stock worth $48,591,000 after buying an additional 1,048,694 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in Samsara during the first quarter worth $3,109,000. 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.