Samsara (NYSE:IOT) Downgraded by StockNews.com to “Sell”

Samsara (NYSE:IOT) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other equities research analysts have also recently issued reports on the stock. Wolfe Research restated an “outperform” rating and set a $44.00 price target on shares of Samsara in a report on Friday, June 28th. Morgan Stanley increased their price objective on Samsara from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, September 6th. Piper Sandler increased their target price on shares of Samsara from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. BMO Capital Markets lifted their price objective on Samsara from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. lifted their price objective on Samsara from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $42.07.

Samsara Trading Up 0.2 %

Shares of NYSE IOT opened at $45.73 on Wednesday. Samsara has a 12-month low of $21.48 and a 12-month high of $50.07. The company has a market cap of $25.19 billion, a PE ratio of -91.46 and a beta of 1.52. The stock has a 50 day simple moving average of $42.38 and a 200-day simple moving average of $37.69.

Samsara (NYSE:IOT) last announced its earnings results on Thursday, September 5th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. Samsara had a negative net margin of 24.19% and a negative return on equity of 20.39%. The company had revenue of $300.20 million during the quarter, compared to analysts’ expectations of $289.53 million. During the same period last year, the company posted ($0.11) earnings per share. The business’s revenue for the quarter was up 36.9% on a year-over-year basis. Sell-side analysts forecast that Samsara will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Dominic Phillips sold 20,747 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $46.79, for a total value of $970,752.13. Following the transaction, the insider now owns 882,664 shares in the company, valued at $41,299,848.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dominic Phillips sold 20,747 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $46.79, for a total value of $970,752.13. Following the completion of the transaction, the insider now owns 882,664 shares in the company, valued at approximately $41,299,848.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 8,500 shares of Samsara stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $50.01, for a total value of $425,085.00. Following the transaction, the insider now directly owns 396,784 shares in the company, valued at $19,843,167.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,036,034 shares of company stock valued at $85,086,127. 60.04% of the stock is owned by company insiders.

Institutional Investors Weigh In On Samsara

Several hedge funds and other institutional investors have recently made changes to their positions in IOT. Resources Management Corp CT ADV lifted its position in shares of Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock valued at $32,000 after buying an additional 490 shares during the last quarter. Quarry LP bought a new stake in Samsara in the 4th quarter valued at about $37,000. National Bank of Canada FI purchased a new stake in Samsara during the second quarter valued at about $38,000. Nemes Rush Group LLC purchased a new stake in shares of Samsara during the 2nd quarter valued at approximately $45,000. Finally, UniSuper Management Pty Ltd purchased a new position in Samsara during the first quarter valued at approximately $94,000. 89.39% of the stock is owned by institutional investors.

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.