Samsara (NYSE:IOT) Earns Hold Rating from Analysts at Berenberg Bank

Berenberg Bank began coverage on shares of Samsara (NYSE:IOT) in a report issued on Monday morning, MarketBeat.com reports. The firm issued a hold rating and a $57.00 target price on the stock.

Several other brokerages have also recently weighed in on IOT. Truist Financial upped their price objective on shares of Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company raised their price target on Samsara from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Piper Sandler boosted their price objective on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. BNP Paribas began coverage on Samsara in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $46.00 target price for the company. Finally, Loop Capital upped their price target on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.67.

Samsara Stock Performance

Shares of NYSE:IOT opened at $53.99 on Monday. The company’s fifty day moving average is $47.66 and its 200-day moving average is $46.15. Samsara has a 52 week low of $27.14 and a 52 week high of $57.51. The company has a market capitalization of $30.30 billion, a PE ratio of -114.88 and a beta of 1.61.

Insider Activity

In related news, insider Dominic Phillips sold 20,801 shares of Samsara stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $50.97, for a total transaction of $1,060,226.97. Following the transaction, the insider now owns 755,001 shares of the company’s stock, valued at $38,482,400.97. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjit Biswas sold 170,416 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $45.30, for a total transaction of $7,719,844.80. Following the completion of the sale, the insider now directly owns 1,175,569 shares of the company’s stock, valued at $53,253,275.70. The trade was a 12.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,549,936 shares of company stock valued at $75,624,852 in the last 90 days. 60.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOT. Dimensional Fund Advisors LP lifted its holdings in shares of Samsara by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 301,705 shares of the company’s stock valued at $10,164,000 after purchasing an additional 14,215 shares in the last quarter. Bank of Montreal Can bought a new position in Samsara in the second quarter valued at approximately $537,000. SG Americas Securities LLC acquired a new position in shares of Samsara in the third quarter valued at approximately $526,000. Handelsbanken Fonder AB increased its position in shares of Samsara by 17.8% during the third quarter. Handelsbanken Fonder AB now owns 47,000 shares of the company’s stock worth $2,262,000 after acquiring an additional 7,100 shares in the last quarter. Finally, Miracle Mile Advisors LLC bought a new stake in Samsara in the 3rd quarter valued at $339,000. 96.02% of the stock is owned by institutional investors and hedge funds.

About Samsara

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.