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

Samsara (NYSE:IOT) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other analysts also recently issued reports on IOT. Craig Hallum began coverage on shares of Samsara in a report on Tuesday, October 22nd. They set a “hold” rating and a $48.00 price target on the stock. Royal Bank of Canada increased their price target on shares of Samsara from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. Piper Sandler increased their price target on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Bank of America increased their price target on shares of Samsara from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, September 6th. Finally, Truist Financial increased their price target on shares of Samsara from $35.00 to $40.00 and gave the stock a “hold” rating in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $44.20.

Samsara Price Performance

IOT stock opened at $47.79 on Wednesday. The firm’s fifty day simple moving average is $46.53 and its 200-day simple moving average is $39.49. The company has a market capitalization of $26.59 billion, a P/E ratio of -99.56 and a beta of 1.52. Samsara has a 12 month low of $21.48 and a 12 month high of $51.53.

Samsara (NYSE:IOT) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $300.20 million for 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 business’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) EPS. As a group, sell-side analysts forecast that Samsara will post -0.34 earnings per share for the current year.

Insider Activity

In other news, CEO Sanjit Biswas sold 81,515 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total value of $3,019,315.60. Following the completion of the sale, the chief executive officer now directly owns 96,000 shares in the company, valued at $3,555,840. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sanjit Biswas sold 81,515 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $37.04, for a total transaction of $3,019,315.60. Following the completion of the sale, the chief executive officer now directly owns 96,000 shares in the company, valued at approximately $3,555,840. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Bicket sold 42,942 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $48.55, for a total transaction of $2,084,834.10. Following the sale, the insider now owns 720,678 shares of the company’s stock, valued at approximately $34,988,916.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,879,269 shares of company stock worth $83,386,415 over the last three months. Insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently bought and sold shares of IOT. Baillie Gifford & Co. increased its position in Samsara by 18.1% during the second quarter. Baillie Gifford & Co. now owns 27,433,212 shares of the company’s stock worth $924,499,000 after purchasing an additional 4,207,974 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in 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 period. Price T Rowe Associates Inc. MD boosted its stake in Samsara by 18.8% during the first 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 period. Vanguard Group Inc. boosted its stake in 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. Finally, Allspring Global Investments Holdings LLC purchased a new position in Samsara during the second quarter worth about $29,464,000. 89.39% of the stock is currently owned by institutional investors and hedge funds.

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.