StockNews.com Downgrades Samsara (NYSE:IOT) to Sell

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

A number of other research analysts have also commented on the company. Truist Financial upped their target price on Samsara from $35.00 to $40.00 and gave the company a “hold” rating in a research note on Friday, September 6th. Royal Bank of Canada raised their price objective on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Evercore ISI upped their target price on shares of Samsara from $40.00 to $42.00 and gave the company an “in-line” rating in a research note on Friday, September 6th. BMO Capital Markets raised their price target 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. Finally, Wells Fargo & Company upped their price objective on Samsara from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.00.

Samsara Trading Down 0.2 %

Shares of IOT stock opened at $50.50 on Friday. The firm has a market capitalization of $28.10 billion, a P/E ratio of -105.21 and a beta of 1.52. Samsara has a 1 year low of $21.48 and a 1 year high of $51.53. The firm’s fifty day simple moving average is $43.78 and its 200 day simple moving average is $38.16.

Samsara (NYSE:IOT) last announced its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $300.20 million during the quarter, compared to analyst estimates of $289.53 million. During the same quarter in the prior year, the business earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. Equities research analysts anticipate that Samsara will post -0.34 EPS for the current fiscal year.

Insider Activity at Samsara

In other Samsara news, insider Adam Eltoukhy sold 4,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. Following the sale, the insider now owns 396,784 shares of the company’s stock, valued at $19,839,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sanjit Biswas sold 59,112 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $38.05, for a total transaction of $2,249,211.60. Following the completion of the sale, the chief executive officer now directly owns 1,311,187 shares of the company’s stock, valued at $49,890,665.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam Eltoukhy sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $50.00, for a total transaction of $200,000.00. Following the completion of the transaction, the insider now owns 396,784 shares in the company, valued at $19,839,200. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,053,030 shares of company stock valued at $87,159,176 over the last ninety days. 60.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IOT. CHURCHILL MANAGEMENT Corp boosted its holdings in Samsara by 135.6% during the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after buying an additional 34,679 shares during the last quarter. Mission Wealth Management LP bought a new position in Samsara during the 1st quarter worth approximately $1,100,000. Quarry LP acquired a new position in Samsara during the fourth quarter valued at approximately $37,000. Magnetar Financial LLC bought a new stake in Samsara in the second quarter valued at approximately $1,240,000. Finally, Bank of Montreal Can acquired a new stake in Samsara in the second quarter worth $537,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

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.