Samsara (NYSE:IOT) Stock Rating Lowered by Wall Street Zen

Samsara (NYSE:IOT) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other equities analysts also recently issued reports on IOT. Morgan Stanley decreased their price target on shares of Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Craig Hallum reissued a “hold” rating on shares of Samsara in a research note on Friday, March 7th. Wells Fargo & Company decreased their price target on shares of Samsara from $51.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Berenberg Bank started coverage on shares of Samsara in a research note on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target for the company. Finally, Royal Bank of Canada decreased their price target on shares of Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Samsara has an average rating of “Moderate Buy” and an average price target of $49.47.

Samsara Trading Up 1.7%

Shares of NYSE:IOT opened at $46.58 on Friday. The company has a market cap of $26.52 billion, a price-to-earnings ratio of -99.11 and a beta of 1.70. The company has a 50-day moving average price of $40.91 and a 200-day moving average price of $45.53. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90.

Insider Activity

In other Samsara news, insider Sanjit Biswas sold 145,392 shares of Samsara stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $44.27, for a total value of $6,436,503.84. Following the sale, the insider now directly owns 120,000 shares in the company, valued at approximately $5,312,400. The trade was a 54.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Bicket sold 52,573 shares of Samsara stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $46.25, for a total transaction of $2,431,501.25. Following the completion of the sale, the insider now owns 167,745 shares in the company, valued at approximately $7,758,206.25. This represents a 23.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,442,089 shares of company stock worth $57,323,475 over the last 90 days. 60.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Samsara

Institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC grew its stake in shares of Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 414 shares in the last quarter. Keystone Financial Group Inc. grew its stake in shares of Samsara by 300.0% in the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company’s stock worth $25,000 after buying an additional 450 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Samsara in the 4th quarter worth $31,000. IFP Advisors Inc grew its stake in shares of Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock worth $35,000 after buying an additional 598 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Samsara in the 1st quarter worth $31,000. 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.