Samsara (NYSE:IOT) Price Target Lowered to $50.00 at Morgan Stanley

Samsara (NYSE:IOT) had its price objective decreased by Morgan Stanley from $56.00 to $50.00 in a research report sent to investors on Wednesday morning, MarketBeat.com reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other analysts have also weighed in on the stock. Cowen restated a “buy” rating on shares of Samsara in a research note on Friday, March 7th. Wells Fargo & Company decreased their price objective on shares of Samsara from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Truist Financial cut their target price on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, March 7th. Raymond James started coverage on Samsara in a research note on Wednesday, February 26th. They issued a “market perform” rating for the company. Finally, BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research report on Monday, March 10th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Samsara presently has a consensus rating of “Moderate Buy” and an average target price of $49.07.

Samsara Stock Up 1.1 %

Samsara stock opened at $39.11 on Wednesday. The stock’s 50 day moving average is $43.26 and its 200 day moving average is $46.88. The company has a market capitalization of $22.27 billion, a P/E ratio of -83.21 and a beta of 1.71. Samsara has a twelve month low of $27.14 and a twelve month high of $61.90.

Insider Buying and Selling

In other Samsara news, insider Adam Eltoukhy sold 3,903 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $34.07, for a total value of $132,975.21. Following the completion of the sale, the insider now directly owns 320,936 shares in the company, valued at approximately $10,934,289.52. This represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sanjit Biswas sold 160,000 shares of the firm’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $34.89, for a total value of $5,582,400.00. Following the transaction, the insider now owns 108,000 shares in the company, valued at approximately $3,768,120. This represents a 59.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,336,223 shares of company stock valued at $56,635,645 in the last 90 days. Company insiders own 60.04% of the company’s stock.

Institutional Trading of Samsara

A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of Samsara by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 7,959 shares of the company’s stock valued at $383,000 after purchasing an additional 388 shares in the last quarter. Barclays PLC raised its stake in Samsara by 163.2% in the third quarter. Barclays PLC now owns 412,066 shares of the company’s stock worth $19,829,000 after buying an additional 255,532 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Samsara by 9.5% during the third quarter. Geode Capital Management LLC now owns 2,279,383 shares of the company’s stock worth $109,307,000 after buying an additional 196,867 shares during the period. Virtu Financial LLC bought a new stake in Samsara during the 3rd quarter valued at $1,689,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Samsara in the 3rd quarter valued at $546,000. 96.02% of the stock is owned by hedge funds and other institutional investors.

About Samsara

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.