Samsara Inc. (NYSE:IOT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Samsara Inc. (NYSE:IOT) have received a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $49.60.

IOT has been the topic of several research reports. Truist Financial reduced their price target on Samsara from $50.00 to $42.00 and set a “hold” rating on the stock in a report on Friday. Wells Fargo & Company reduced their target price on Samsara from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday. Royal Bank of Canada reduced their target price on Samsara from $64.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday. Morgan Stanley upped their target price on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a report on Wednesday, November 20th. Finally, Berenberg Bank began coverage on Samsara in a report on Monday, February 3rd. They issued a “hold” rating and a $57.00 target price on the stock.

Samsara Trading Down 15.7 %

NYSE:IOT opened at $35.32 on Wednesday. The stock has a market cap of $19.82 billion, a P/E ratio of -75.14 and a beta of 1.63. The stock’s 50-day moving average is $49.02 and its 200-day moving average is $48.36. Samsara has a 1-year low of $27.14 and a 1-year high of $61.90.

Insider Buying and Selling at Samsara

In other news, insider Dominic Phillips sold 64,629 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.95, for a total transaction of $2,969,702.55. Following the transaction, the insider now directly owns 755,001 shares of the company’s stock, valued at $34,692,295.95. This represents a 7.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Parallel Fund Iv L.P. Ah sold 112,380 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was 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. Over the last three months, insiders have sold 1,369,776 shares of company stock valued at $64,065,203. 60.04% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Samsara

A number of institutional investors have recently modified their holdings of IOT. State Street Corp raised its position in Samsara by 4.7% in the 3rd quarter. State Street Corp now owns 2,125,584 shares of the company’s stock valued at $102,283,000 after buying an additional 95,006 shares during the last quarter. HighTower Advisors LLC boosted its stake in Samsara by 193.4% in the 3rd quarter. HighTower Advisors LLC now owns 61,946 shares of the company’s stock worth $2,981,000 after purchasing an additional 40,833 shares during the period. Swiss National Bank raised its holdings in shares of Samsara by 3.1% in the 3rd quarter. Swiss National Bank now owns 615,600 shares of the company’s stock valued at $29,623,000 after acquiring an additional 18,400 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Samsara in the 4th quarter valued at about $422,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Samsara during the 4th quarter valued at about $431,000. 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.