Samsara Inc. (NYSE:IOT) Given Average Rating of “Moderate Buy” by Analysts

Samsara Inc. (NYSE:IOT) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $48.87.

A number of research firms have issued reports on IOT. Cowen reiterated a “buy” rating on shares of Samsara in a report on Friday, March 7th. Piper Sandler dropped their target price on Samsara from $50.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. BMO Capital Markets raised Samsara from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a research report on Monday, March 10th. Raymond James started coverage on shares of Samsara in a report on Wednesday, February 26th. They issued a “market perform” rating on the stock. Finally, Craig Hallum reaffirmed a “hold” rating on shares of Samsara in a research report on Friday, March 7th.

Insider Activity

In related news, insider Dominic Phillips sold 20,801 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $50.97, for a total value of $1,060,226.97. Following the completion of the sale, the insider now directly owns 755,001 shares in the company, valued at approximately $38,482,400.97. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sanjit Biswas sold 13,086 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $55.75, for a total value of $729,544.50. Following the transaction, the insider now owns 1,571,848 shares in the company, valued at approximately $87,630,526. This trade represents a 0.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,243,232 shares of company stock valued at $49,935,075. 60.04% of the stock is owned by insiders.

Institutional Trading of Samsara

Large investors have recently modified their holdings of the stock. FMR LLC grew its stake in 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 buying an additional 2,852,575 shares in the last quarter. Jordan Park Trust Co LLC bought a new position in Samsara in the fourth quarter valued at approximately $112,041,000. Norges Bank acquired a new position in Samsara during the fourth quarter valued at approximately $106,274,000. Arrowstreet Capital Limited Partnership lifted its stake in Samsara by 107.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,143,855 shares of the company’s stock worth $181,045,000 after purchasing an additional 2,148,081 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake 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 purchasing an additional 1,777,757 shares during the last quarter. 96.02% of the stock is owned by institutional investors and hedge funds.

Samsara Stock Up 1.0 %

Shares of IOT stock opened at $39.65 on Thursday. Samsara has a 12-month low of $27.14 and a 12-month high of $61.90. The firm has a fifty day moving average of $39.52 and a 200-day moving average of $46.21. The company has a market capitalization of $22.57 billion, a price-to-earnings ratio of -84.36 and a beta of 1.71.

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.