Samsara (NYSE:IOT) Cut to “Sell” at StockNews.com

Samsara (NYSE:IOT) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other equities research analysts also recently issued reports on the company. Evercore ISI increased their target price on Samsara from $40.00 to $42.00 and gave the stock an “in-line” rating in a research report on Friday, September 6th. Wells Fargo & Company increased their price objective on Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Truist Financial lifted their target price on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a report on Friday, September 6th. Wolfe Research reissued an “outperform” rating and issued a $44.00 price target on shares of Samsara in a report on Friday, June 28th. Finally, Morgan Stanley boosted their price objective on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Samsara presently has a consensus rating of “Hold” and an average target price of $42.07.

Samsara Trading Down 2.3 %

Shares of IOT stock traded down $1.08 on Wednesday, hitting $45.66. 3,380,594 shares of the stock were exchanged, compared to its average volume of 3,778,664. The firm’s 50 day moving average is $42.21 and its two-hundred day moving average is $37.63. Samsara has a one year low of $21.48 and a one year high of $50.07. The firm has a market capitalization of $25.15 billion, a PE ratio of -91.32 and a beta of 1.50.

Samsara (NYSE:IOT) last posted its 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. The firm had revenue of $300.20 million during the quarter, compared to the consensus estimate of $289.53 million. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company’s revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.11) earnings per share. On average, sell-side analysts expect that Samsara will post -0.34 earnings per share for the current year.

Insider Activity

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO James Andrew Munk sold 1,093 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares of the company’s stock, valued at approximately $15,123,445.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,036,034 shares of company stock worth $85,086,127. 60.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Resources Management Corp CT ADV grew its stake in shares of Samsara by 104.0% during the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares during the last quarter. Quarry LP purchased a new stake in Samsara during the 4th quarter valued at about $37,000. National Bank of Canada FI bought a new position in Samsara during the 2nd quarter worth approximately $38,000. Nemes Rush Group LLC purchased a new position in Samsara in the 2nd quarter worth approximately $45,000. Finally, UniSuper Management Pty Ltd purchased a new position in Samsara in the 1st quarter worth approximately $94,000. 89.39% 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.