Samsara (NYSE:IOT) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Samsara (NYSE:IOT) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Several other research firms have also recently weighed in on IOT. Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Samsara in a report on Friday, June 28th. Loop Capital lifted their target price on shares of Samsara from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Morgan Stanley increased their price target on shares of Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Wells Fargo & Company lifted their price objective on shares of Samsara from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, TD Cowen increased their target price on Samsara from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Samsara has an average rating of “Hold” and a consensus target price of $44.20.

Samsara Stock Performance

IOT stock opened at $47.69 on Tuesday. The firm has a 50 day moving average of $45.76 and a 200-day moving average of $38.96. Samsara has a 12 month low of $21.48 and a 12 month high of $51.53.

Samsara (NYSE:IOT) last announced its quarterly earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $300.20 million during 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 quarterly revenue was up 36.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS. On average, analysts anticipate that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of Samsara stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjit Biswas sold 96,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $46.88, for a total value of $4,500,480.00. Following the transaction, the chief executive officer now owns 698,299 shares in the company, valued at approximately $32,736,257.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,945,061 shares of company stock valued at $84,802,692. 60.04% of the stock is currently owned by company insiders.

Institutional Trading of Samsara

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its holdings in Samsara by 18.1% in the 2nd 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 in the last quarter. 1832 Asset Management L.P. raised its stake in Samsara by 102.1% in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Samsara by 18.8% in 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 position in Samsara by 12.1% during the 1st quarter. Vanguard Group Inc. now owns 17,101,156 shares of the company’s stock valued at $646,253,000 after acquiring an additional 1,841,149 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Samsara during the 2nd quarter worth approximately $29,464,000. Hedge funds and other institutional investors own 89.39% 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.