Truist Financial Issues Pessimistic Forecast for Samsara (NYSE:IOT) Stock Price

Samsara (NYSE:IOT) had its price objective cut by analysts at Truist Financial from $50.00 to $42.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 18.93% from the company’s previous close.

Several other research firms also recently issued reports on IOT. JPMorgan Chase & Co. upped their price objective on Samsara from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. StockNews.com upgraded Samsara from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Morgan Stanley boosted their price objective on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 20th. Royal Bank of Canada raised their target price on shares of Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Piper Sandler lifted their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.60.

Samsara Trading Down 15.7 %

IOT opened at $35.32 on Friday. Samsara has a 1-year low of $27.14 and a 1-year high of $61.90. The firm has a 50-day moving average price of $49.02 and a two-hundred day moving average price of $48.31. The stock has a market capitalization of $19.82 billion, a PE ratio of -75.14 and a beta of 1.63.

Insider Buying and Selling at Samsara

In other Samsara news, insider Adam Eltoukhy sold 9,043 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following the completion of the transaction, the insider now owns 331,106 shares in the company, valued at approximately $17,839,991.28. This represents a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjit Biswas sold 13,086 shares of the business’s 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 in the company, valued at approximately $87,630,526. This trade represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,389,912 shares of company stock valued at $65,081,064. Company insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in Samsara by 77.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,881 shares of the company’s stock worth $91,000 after acquiring an additional 821 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Samsara by 2.8% in the third quarter. State of New Jersey Common Pension Fund D now owns 78,287 shares of the company’s stock worth $3,767,000 after purchasing an additional 2,114 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Samsara by 23.4% during the third quarter. Baillie Gifford & Co. now owns 33,844,390 shares of the company’s stock worth $1,628,592,000 after purchasing an additional 6,411,178 shares during the last quarter. Rakuten Securities Inc. grew its position in Samsara by 100.4% in the third quarter. Rakuten Securities Inc. now owns 46,903 shares of the company’s stock valued at $2,257,000 after purchasing an additional 23,495 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in Samsara by 4.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 376,283 shares of the company’s stock valued at $18,107,000 after buying an additional 16,528 shares during the last quarter. 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.