Brokerages Set Samsara Inc. (NYSE:IOT) Target Price at $49.60

Shares of Samsara Inc. (NYSE:IOT) have earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $49.60.

Several research firms recently issued reports on IOT. Piper Sandler raised shares of Samsara from a “neutral” rating to an “overweight” rating and set a $50.00 price target for the company in a research report on Monday, March 10th. Truist Financial cut their target price on Samsara from $50.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, March 7th. Craig Hallum reiterated a “hold” rating on shares of Samsara in a research report on Friday, March 7th. Berenberg Bank assumed coverage on Samsara in a research note on Monday, February 3rd. They set a “hold” rating and a $57.00 price objective for the company. Finally, Loop Capital boosted their target price on shares of Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th.

Insiders Place Their Bets

In other Samsara news, major shareholder Horowitz Lsv Fund I. Andreessen sold 292,931 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $34.19, for a total transaction of $10,015,310.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjit Biswas sold 59,114 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $45.25, for a total transaction of $2,674,908.50. Following the completion of the transaction, the insider now directly owns 196,678 shares in the company, valued at $8,899,679.50. This trade represents a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,607,296 shares of company stock valued at $70,334,047. 60.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Samsara

A number of institutional investors have recently bought and sold shares of the business. FMR LLC grew its stake in shares of Samsara by 24.0% during the fourth quarter. FMR LLC now owns 14,743,175 shares of the company’s stock worth $644,129,000 after purchasing an additional 2,852,575 shares during the period. Jordan Park Trust Co LLC bought a new position in Samsara during the fourth quarter worth about $112,041,000. Norges Bank acquired a new position in shares of Samsara during the 4th quarter worth about $106,274,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Samsara by 107.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock valued at $181,045,000 after acquiring an additional 2,148,081 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Samsara by 1,909.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,870,864 shares of the company’s stock valued at $90,026,000 after acquiring an additional 1,777,757 shares during the period. Institutional investors and hedge funds own 96.02% of the company’s stock.

Samsara Stock Performance

Shares of IOT stock opened at $38.73 on Friday. The firm has a fifty day moving average of $47.06 and a 200-day moving average of $47.93. The stock has a market cap of $21.73 billion, a price-to-earnings ratio of -82.40 and a beta of 1.63. Samsara has a 52-week low of $27.14 and a 52-week high of $61.90.

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.