Samsara (NYSE:IOT) Stock Price Down 4.2% – Here’s What Happened

Samsara Inc. (NYSE:IOT)’s share price was down 4.2% on Tuesday . The stock traded as low as $46.96 and last traded at $47.08. Approximately 939,855 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 3,662,560 shares. The stock had previously closed at $49.14.

Analysts Set New Price Targets

IOT has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on Samsara from $40.00 to $44.00 and gave the company a “market perform” rating in a research note on Friday, September 6th. Loop Capital lifted their price target on Samsara from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Morgan Stanley increased their price objective on shares of Samsara from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. Wolfe Research reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Samsara in a report on Friday, June 28th. Finally, StockNews.com upgraded shares of Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.31.

Samsara Trading Up 1.4 %

The stock has a market capitalization of $26.04 billion, a PE ratio of -94.56 and a beta of 1.52. The stock has a 50 day moving average price of $45.43 and a 200-day moving average price of $38.83.

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

Insider Buying and Selling at Samsara

In other news, CEO Sanjit Biswas sold 65,605 shares of Samsara stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $36.82, for a total transaction of $2,415,576.10. Following the transaction, the chief executive officer now owns 1,112,694 shares in the company, valued at $40,969,393.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sanjit Biswas sold 65,605 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $36.82, for a total value of $2,415,576.10. Following the transaction, the chief executive officer now directly owns 1,112,694 shares of the company’s stock, valued at approximately $40,969,393.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Eltoukhy sold 9,308 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $50.64, for a total value of $471,357.12. Following the sale, the insider now directly owns 396,784 shares of the company’s stock, valued at $20,093,141.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,849,061 shares of company stock valued at $80,282,052. Insiders own 60.04% of the company’s stock.

Institutional Investors Weigh In On Samsara

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOT. Resources Management Corp CT ADV increased its stake in shares of Samsara by 104.0% in the second quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after purchasing an additional 490 shares in the last quarter. National Bank of Canada FI purchased a new stake in Samsara in the 2nd quarter worth $38,000. Nemes Rush Group LLC purchased a new stake in Samsara in the 2nd quarter worth $45,000. UMB Bank n.a. raised its holdings in Samsara by 69.1% during the third quarter. UMB Bank n.a. now owns 1,023 shares of the company’s stock valued at $49,000 after acquiring an additional 418 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Samsara by 250.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock valued at $67,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 89.39% 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.