Samsara (NYSE:IOT) Earns Market Perform Rating from Analysts at Raymond James

Stock analysts at Raymond James began coverage on shares of Samsara (NYSE:IOT) in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm set a “market perform” rating on the stock.

A number of other brokerages also recently commented on IOT. Morgan Stanley raised their target price on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Truist Financial upped their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, November 18th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets upped their target price on Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Finally, Berenberg Bank started coverage on Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.67.

Samsara Trading Down 1.3 %

NYSE IOT opened at $49.96 on Wednesday. The stock has a market cap of $28.04 billion, a PE ratio of -106.30 and a beta of 1.61. Samsara has a 12 month low of $27.14 and a 12 month high of $61.90. The company’s 50-day moving average price is $49.05 and its 200-day moving average price is $48.10.

Insiders Place Their Bets

In other Samsara news, Director Jonathan Chadwick sold 22,500 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $45.37, for a total value of $1,020,825.00. Following the completion of the transaction, the director now directly owns 396,079 shares of the company’s stock, valued at approximately $17,970,104.23. This trade represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sanjit Biswas sold 13,086 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $55.75, for a total value of $729,544.50. Following the completion of the sale, the insider now owns 1,571,848 shares of the company’s stock, 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. In the last quarter, insiders sold 1,292,355 shares of company stock worth $61,771,186. 60.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Samsara

A number of large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its position in Samsara by 10.9% in the 4th quarter. Toronto Dominion Bank now owns 29,435 shares of the company’s stock valued at $1,286,000 after buying an additional 2,899 shares during the last quarter. Cache Advisors LLC purchased a new position in Samsara in the fourth quarter valued at about $227,000. Fourth Dimension Wealth LLC acquired a new stake in Samsara during the 4th quarter valued at approximately $38,000. Continuum Advisory LLC raised its position in shares of Samsara by 32.1% in the 4th quarter. Continuum Advisory LLC now owns 1,161 shares of the company’s stock valued at $51,000 after purchasing an additional 282 shares in the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Samsara during the 4th quarter valued at approximately $3,777,000. 96.02% of the stock is owned by institutional investors and hedge funds.

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.