Samsara (NYSE:IOT) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Samsara (NYSE:IOT) in a research note released on Wednesday, Benzinga reports. They currently have a $47.00 price target on the stock.

Several other research analysts have also issued reports on IOT. Loop Capital initiated coverage on Samsara in a research report on Thursday, April 18th. They issued a buy rating and a $42.00 target price for the company. StockNews.com raised Samsara from a sell rating to a hold rating in a research report on Saturday, May 25th. Bank of America initiated coverage on Samsara in a research report on Thursday, June 20th. They issued a buy rating and a $37.00 target price for the company. Piper Sandler reissued a neutral rating and issued a $36.00 target price (down previously from $41.00) on shares of Samsara in a research report on Friday, June 7th. Finally, Evercore ISI decreased their target price on Samsara from $41.00 to $40.00 and set an in-line rating for the company in a research report on Friday, June 7th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Samsara presently has a consensus rating of Moderate Buy and a consensus target price of $36.55.

Samsara Stock Performance

IOT stock opened at $31.15 on Wednesday. Samsara has a fifty-two week low of $21.48 and a fifty-two week high of $42.28. The company has a market capitalization of $17.16 billion, a price-to-earnings ratio of -62.30 and a beta of 1.51. The business’s 50 day moving average price is $34.91 and its two-hundred day moving average price is $34.28.

Insider Buying and Selling at Samsara

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $34.69, for a total transaction of $3,330,240.00. Following the sale, the chief executive officer now directly owns 57,600 shares in the company, valued at approximately $1,998,144. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $34.69, for a total transaction of $3,330,240.00. Following the sale, the chief executive officer now directly owns 57,600 shares in the company, valued at approximately $1,998,144. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.88, for a total value of $8,013,737.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,707,743 shares of company stock worth $58,180,086. Insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

A number of institutional investors and hedge funds have recently modified their holdings of IOT. 1832 Asset Management L.P. boosted its stake in shares of Samsara by 102.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,628,100 shares of the company’s stock worth $288,266,000 after buying an additional 3,853,400 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 buying an additional 2,797,326 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Samsara by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock worth $646,253,000 after buying an additional 1,841,149 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Samsara by 3.7% in the 1st quarter. Baillie Gifford & Co. now owns 23,225,238 shares of the company’s stock worth $877,682,000 after buying an additional 827,848 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Samsara by 1,601.3% in the 1st quarter. Blair William & Co. IL now owns 744,929 shares of the company’s stock worth $28,151,000 after buying an additional 701,144 shares during the last quarter. 89.39% of the stock is currently 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.