Samsara (NYSE:IOT) Stock Rating Upgraded by Piper Sandler

Samsara (NYSE:IOT) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Monday,Briefing.com Automated Import reports. The firm presently has a $50.00 price objective on the stock. Piper Sandler’s target price would indicate a potential upside of 41.58% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Samsara from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Royal Bank of Canada cut their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday. Loop Capital upped their price target on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Raymond James assumed coverage on Samsara in a research report on Wednesday, February 26th. They set a “market perform” rating for the company. Finally, BMO Capital Markets decreased their target price on shares of Samsara from $57.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $49.60.

Samsara Stock Down 15.7 %

NYSE IOT opened at $35.32 on Monday. The business’s fifty day simple moving average is $49.02 and its 200-day simple moving average is $48.36. The firm has a market cap of $19.82 billion, a PE ratio of -75.14 and a beta of 1.63. Samsara has a 52 week low of $27.14 and a 52 week high of $61.90.

Insider Buying and Selling

In other Samsara news, insider Adam Eltoukhy sold 23,960 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $43.81, for a total transaction of $1,049,687.60. Following the completion of the sale, the insider now directly owns 331,106 shares of the company’s stock, valued at $14,505,753.86. This represents a 6.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of Samsara stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $45.92, for a total value of $5,160,489.60. The disclosure for this sale can be found here. Insiders sold a total of 1,369,776 shares of company stock worth $64,065,203 in the last 90 days. Company insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently bought and sold shares of IOT. Cim LLC lifted its stake in shares of Samsara by 1.3% in the 4th quarter. Cim LLC now owns 31,164 shares of the company’s stock worth $1,362,000 after acquiring an additional 386 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Samsara in the fourth quarter valued at about $1,100,000. Windmill Hill Asset Management Ltd boosted its holdings in Samsara by 25.0% in the 4th quarter. Windmill Hill Asset Management Ltd now owns 5,974 shares of the company’s stock valued at $261,000 after purchasing an additional 1,195 shares in the last quarter. Toronto Dominion Bank increased its position in Samsara by 10.9% during the 4th quarter. Toronto Dominion Bank now owns 29,435 shares of the company’s stock worth $1,286,000 after purchasing an additional 2,899 shares during the period. Finally, Cache Advisors LLC acquired a new position in Samsara during the 4th quarter worth approximately $227,000. 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.