Samsara Inc. (NYSE:IOT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Samsara Inc. (NYSE:IOT) have been assigned an average rating of “Hold” from the fourteen brokerages that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $51.29.

A number of analysts have recently commented on IOT shares. Craig Hallum started coverage on shares of Samsara in a research report on Tuesday, October 22nd. They issued a “hold” rating and a $48.00 price objective on the stock. Royal Bank of Canada boosted their price target on shares of Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. TD Cowen raised their price objective on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a report on Friday, October 11th. Piper Sandler upped their target price on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company raised their price target on Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, December 6th.

Insider Activity

In other Samsara news, insider Dominic Phillips sold 64,629 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.95, for a total value of $2,969,702.55. Following the completion of the sale, the insider now owns 755,001 shares in the company, valued at approximately $34,692,295.95. This represents a 7.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjit Biswas sold 74,667 shares of Samsara stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $49.44, for a total transaction of $3,691,536.48. Following the completion of the sale, the chief executive officer now owns 793,219 shares in the company, valued at approximately $39,216,747.36. This represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,439,925 shares of company stock worth $72,045,428 over the last 90 days. 60.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Samsara

Several institutional investors have recently modified their holdings of IOT. Resources Management Corp CT ADV boosted its stake in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Samsara in the third quarter worth approximately $34,000. National Bank of Canada FI purchased a new stake in Samsara in the second quarter worth $38,000. Nemes Rush Group LLC bought a new stake in Samsara during the 2nd quarter valued at about $45,000. Finally, Continuum Advisory LLC grew its stake in Samsara by 39.1% in the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after purchasing an additional 247 shares in the last quarter. 96.02% of the stock is owned by institutional investors.

Samsara Trading Down 2.2 %

Shares of Samsara stock opened at $42.67 on Friday. Samsara has a 12 month low of $27.14 and a 12 month high of $57.51. The company has a market capitalization of $23.74 billion, a PE ratio of -90.79 and a beta of 1.53. The stock’s fifty day simple moving average is $50.19 and its 200 day simple moving average is $42.89.

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.