Samsara (NYSE:IOT) Upgraded at StockNews.com

StockNews.com upgraded shares of Samsara (NYSE:IOT) from a sell rating to a hold rating in a report published on Tuesday.

Other equities research analysts have also recently issued research reports about the stock. Truist Financial raised their target price on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 6th. Morgan Stanley upped their price objective on Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Evercore ISI raised their target price on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Piper Sandler upped their price target on shares of Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Samsara currently has an average rating of “Hold” and an average target price of $43.31.

Samsara Trading Up 2.1 %

Shares of IOT opened at $48.27 on Tuesday. Samsara has a 12 month low of $21.48 and a 12 month high of $51.53. The business’s fifty day simple moving average is $45.58 and its two-hundred day simple moving average is $38.89. The company has a market cap of $26.59 billion, a price-to-earnings ratio of -96.76 and a beta of 1.52.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $300.20 million for the quarter, compared to analysts’ expectations of $289.53 million. Samsara had a negative return on equity of 20.39% and a negative net margin of 24.19%. Samsara’s revenue was up 36.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.11) earnings per share. As a group, research analysts forecast that Samsara will post -0.34 EPS for the current year.

Insider Activity

In related news, CAO James Andrew Munk sold 1,093 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the completion of the sale, the chief accounting officer now owns 319,667 shares in the company, valued at approximately $15,123,445.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total value of $51,709.83. Following the completion of the transaction, the chief accounting officer now directly owns 319,667 shares in the company, valued at $15,123,445.77. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjit Biswas sold 65,605 shares of Samsara stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the sale, the chief executive officer now owns 1,112,694 shares in the company, valued at approximately $40,969,393.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,945,061 shares of company stock worth $84,802,692 over the last ninety days. Corporate insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its position in shares of Samsara by 18.1% in the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after buying an additional 4,207,974 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 acquiring an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after acquiring an additional 1,841,149 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Samsara by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 8,128,500 shares of the company’s stock valued at $273,930,000 after purchasing an additional 500,400 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its position in Samsara by 12.2% in the first quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock worth $84,225,000 after purchasing an additional 243,170 shares during the last quarter. Institutional investors own 89.39% 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.