Samsara (NYSE:IOT) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Samsara (NYSE:IOT) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Several other research firms have also commented on IOT. Wells Fargo & Company raised their price target on Samsara from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 6th. Piper Sandler restated an “overweight” rating and set a $47.00 price target (down from $53.00) on shares of Samsara in a research report on Thursday. Morgan Stanley lowered their price target on Samsara from $56.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Evercore ISI set a $45.00 target price on Samsara in a report on Wednesday, June 25th. Finally, BMO Capital Markets lifted their target price on Samsara from $48.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, June 2nd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.21.

Samsara Stock Down 3.8%

IOT stock opened at $32.47 on Friday. The business has a fifty day moving average of $39.17 and a two-hundred day moving average of $42.39. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of -147.57 and a beta of 1.62. Samsara has a 52-week low of $31.40 and a 52-week high of $61.90.

Samsara (NYSE:IOT) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Samsara had a negative return on equity of 11.14% and a negative net margin of 9.04%. The business had revenue of $366.88 million during the quarter, compared to analyst estimates of $351.44 million. During the same period last year, the business posted $0.03 earnings per share. The company’s quarterly revenue was up 30.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Samsara will post -0.3 EPS for the current year.

Insider Buying and Selling at Samsara

In other news, insider Sanjit Biswas sold 27,602 shares of Samsara stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $36.20, for a total transaction of $999,192.40. Following the sale, the insider owned 851,902 shares in the company, valued at approximately $30,838,852.40. The trade was a 3.14% 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 37,632 shares of Samsara stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $36.15, for a total value of $1,360,396.80. Following the sale, the insider owned 1,258,347 shares in the company, valued at $45,489,244.05. This trade represents a 2.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,926,739 shares of company stock worth $119,969,024 over the last ninety days. Corporate insiders own 46.49% of the company’s stock.

Institutional Trading of Samsara

Hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after acquiring an additional 414 shares during the period. Keystone Financial Group Inc. increased its position in Samsara by 300.0% in the 1st quarter. Keystone Financial Group Inc. now owns 600 shares of the company’s stock valued at $25,000 after acquiring an additional 450 shares during the period. Catalyst Capital Advisors LLC acquired a new position in Samsara in the 2nd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Samsara in the 1st quarter valued at about $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Samsara in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 96.02% of the company’s stock.

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.