Samsara (NYSE:IOT) Sets New 12-Month High – Here’s Why

Samsara Inc. (NYSE:IOT)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $57.69 and last traded at $57.88, with a volume of 1163285 shares trading hands. The stock had previously closed at $56.37.

Wall Street Analyst Weigh In

IOT has been the subject of several research reports. Loop Capital increased their target price on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their target price on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. increased their target price on Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Finally, BMO Capital Markets increased their price target on Samsara from $44.00 to $57.00 and gave the company a “market perform” rating in a research note on Friday, December 6th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Samsara has an average rating of “Hold” and a consensus price target of $51.67.

Samsara Stock Performance

The firm has a 50 day moving average of $47.89 and a 200 day moving average of $47.12.

Insider Buying and Selling

In other Samsara news, insider Sanjit Biswas sold 13,086 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $55.75, for a total value of $729,544.50. Following the completion of the sale, the insider now owns 1,571,848 shares of the company’s stock, valued at approximately $87,630,526. This trade represents a 0.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Adam Eltoukhy sold 23,960 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $43.81, for a total value of $1,049,687.60. Following the completion of the sale, the insider now directly owns 331,106 shares of the company’s stock, valued at $14,505,753.86. This trade represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,639,006 shares of company stock valued at $80,609,827 over the last 90 days. Company insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in shares of Samsara by 4.7% in the third quarter. State Street Corp now owns 2,125,584 shares of the company’s stock valued at $102,283,000 after purchasing an additional 95,006 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Samsara by 193.4% in the third quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock valued at $2,981,000 after purchasing an additional 40,833 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Samsara by 3.1% in the third quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after purchasing an additional 18,400 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Samsara during the fourth quarter worth $422,000. Finally, International Assets Investment Management LLC lifted its holdings in Samsara by 2,787.2% during the third quarter. International Assets Investment Management LLC now owns 10,827 shares of the company’s stock worth $521,000 after acquiring an additional 10,452 shares during the period. Institutional investors own 96.02% 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.