Samsara (NYSE:IOT) Sets New 12-Month High at $49.70

Shares of Samsara Inc. (NYSE:IOT) hit a new 52-week high on Monday . The stock traded as high as $49.70 and last traded at $49.70, with a volume of 4928 shares traded. The stock had previously closed at $49.39.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Piper Sandler raised their price target on Samsara from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. BMO Capital Markets boosted their price objective on shares of Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Friday, September 6th. Evercore ISI upped their target price on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a report on Friday, September 6th. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Finally, TD Cowen raised their price target on shares of Samsara from $45.00 to $46.00 and gave the company a “buy” rating in a report on Friday, September 6th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.07.

Samsara Price Performance

The firm has a market capitalization of $27.07 billion, a price-to-earnings ratio of -98.78 and a beta of 1.50. The business has a fifty day moving average price of $40.39 and a two-hundred day moving average price of $37.00.

Samsara (NYSE:IOT) last issued its quarterly earnings results on Thursday, September 5th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company had revenue of $300.20 million for the quarter, compared to the consensus estimate of $289.53 million. During the same quarter in the prior year, the company earned ($0.11) EPS. Samsara’s quarterly revenue was up 36.9% on a year-over-year basis. On average, research analysts predict that Samsara Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other Samsara news, CEO Sanjit Biswas sold 96,000 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total value of $2,831,040.00. Following the sale, the chief executive officer now directly owns 1,466,299 shares of the company’s stock, valued at $43,241,157.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Adam Eltoukhy sold 9,471 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $37.79, for a total transaction of $357,909.09. Following the sale, the insider now directly owns 465,967 shares of the company’s stock, valued at $17,608,892.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjit Biswas sold 96,000 shares of Samsara stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $29.49, for a total transaction of $2,831,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,466,299 shares of the company’s stock, valued at approximately $43,241,157.51. The disclosure for this sale can be found here. Insiders sold a total of 2,049,232 shares of company stock valued at $82,346,868 over the last 90 days. Insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several institutional investors and hedge funds have recently modified their holdings of the business. Resources Management Corp CT ADV grew its holdings in Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after purchasing an additional 490 shares during the period. Quarry LP acquired a new stake in Samsara in the 4th quarter valued at $37,000. National Bank of Canada FI purchased a new stake in Samsara in the 2nd quarter worth $38,000. Nemes Rush Group LLC acquired a new position in Samsara during the second quarter worth $45,000. Finally, Tradition Wealth Management LLC purchased a new position in Samsara during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 89.39% 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.