Samsara (NYSE:IOT) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Samsara (NYSE:IOT) from a neutral rating to an overweight rating in a research report report published on Monday morning, MarketBeat Ratings reports. Piper Sandler currently has $50.00 price objective on the stock.

A number of other analysts have also issued reports on the company. Berenberg Bank initiated coverage on Samsara in a research report on Monday, February 3rd. They set a “hold” rating and a $57.00 target price on the stock. Loop Capital lifted their target price on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Morgan Stanley lifted their target price on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Wells Fargo & Company dropped their target price on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada dropped their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.60.

Samsara Price Performance

NYSE:IOT opened at $38.02 on Monday. The business’s 50-day moving average is $48.56 and its two-hundred day moving average is $48.20. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The firm has a market capitalization of $21.33 billion, a PE ratio of -80.88 and a beta of 1.63.

Insiders Place Their Bets

In other news, insider Sanjit Biswas sold 13,086 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $55.75, for a total transaction of $729,544.50. Following the transaction, the insider now directly owns 1,571,848 shares in the company, valued at $87,630,526. The trade was a 0.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $34.19, for a total transaction of $10,015,310.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,585,272 shares of company stock valued at $70,167,096. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

Institutional investors have recently bought and sold shares of the business. GLOBALT Investments LLC GA increased its position in Samsara by 0.3% in the 4th quarter. GLOBALT Investments LLC GA now owns 55,943 shares of the company’s stock valued at $2,444,000 after acquiring an additional 182 shares during the period. Continuum Advisory LLC increased its position in shares of Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares during the period. Private Trust Co. NA increased its position in shares of Samsara by 19.2% during the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after buying an additional 250 shares during the period. Tidal Investments LLC increased its position in shares of Samsara by 4.6% during the fourth quarter. Tidal Investments LLC now owns 6,403 shares of the company’s stock worth $280,000 after buying an additional 281 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Samsara by 5.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,791 shares of the company’s stock worth $253,000 after buying an additional 300 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.