Samsara (NYSE:IOT) Given Buy Rating at Loop Capital

Samsara (NYSE:IOT)‘s stock had its “buy” rating reissued by Loop Capital in a research report issued on Friday, Benzinga reports. They currently have a $42.00 target price on the stock. Loop Capital’s price target points to a potential upside of 28.44% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Samsara in a research note on Wednesday. BMO Capital Markets reissued a “market perform” rating and issued a $40.00 price objective on shares of Samsara in a research note on Tuesday, June 11th. Piper Sandler reaffirmed a “neutral” rating and set a $36.00 target price (down from $41.00) on shares of Samsara in a research note on Friday, June 7th. Bank of America started coverage on shares of Samsara in a report on Thursday, June 20th. They set a “buy” rating and a $37.00 target price on the stock. Finally, Evercore ISI dropped their price target on shares of Samsara from $41.00 to $40.00 and set an “in-line” rating for the company in a research note on Friday, June 7th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.55.

Samsara Stock Performance

Samsara stock opened at $32.70 on Friday. The firm has a 50 day moving average price of $34.95 and a 200 day moving average price of $34.27. 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 $18.01 billion, a PE ratio of -65.40 and a beta of 1.51.

Insider Activity

In related news, Director Marc L. Andreessen sold 277,484 shares of Samsara stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $28.88, for a total transaction of $8,013,737.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Adam Eltoukhy sold 10,422 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $30.78, for a total value of $320,789.16. Following the completion of the sale, the insider now directly owns 535,149 shares of the company’s stock, valued at approximately $16,471,886.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Marc L. Andreessen sold 277,484 shares of Samsara stock in a transaction that occurred on Thursday, June 13th. The stock was 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 quarter, insiders sold 1,707,743 shares of company stock worth $58,180,086. Corporate insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several large investors have recently modified their holdings of the company. Baillie Gifford & Co. raised its position in Samsara by 3.7% in the 1st quarter. Baillie Gifford & Co. now owns 23,225,238 shares of the company’s stock valued at $877,682,000 after purchasing an additional 827,848 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Samsara by 18.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,639,141 shares of the company’s stock valued at $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% during the first 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 period. 1832 Asset Management L.P. grew its holdings in shares of Samsara by 102.1% during the first 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. Finally, Westfield Capital Management Co. LP increased its position in Samsara by 12.2% in the 1st quarter. Westfield Capital Management Co. LP now owns 2,228,759 shares of the company’s stock valued at $84,225,000 after acquiring an additional 243,170 shares during the period. 89.39% of the stock is owned by institutional investors and hedge funds.

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.