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

Shares of Samsara Inc. (NYSE:IOT) have earned a consensus recommendation of “Hold” from the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $51.29.

IOT has been the topic of several recent research reports. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Wells Fargo & Company upped their price target on Samsara from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley upped their price target on Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Royal Bank of Canada upped their price target on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Loop Capital upped their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th.

Insider Activity

In other news, CEO Sanjit Biswas sold 42,994 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $48.55, for a total value of $2,087,358.70. Following the transaction, the chief executive officer now owns 440,892 shares in the company, valued at $21,405,306.60. This represents a 8.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Eltoukhy sold 9,307 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.55, for a total transaction of $461,161.85. Following the completion of the transaction, the insider now owns 396,784 shares in the company, valued at $19,660,647.20. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,510,542 shares of company stock valued at $73,468,075 in the last 90 days. 60.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Samsara

Several institutional investors have recently made changes to their positions in the business. Resources Management Corp CT ADV raised its stake in Samsara by 104.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 961 shares of the company’s stock worth $32,000 after acquiring an additional 490 shares during the period. Hobbs Group Advisors LLC bought a new stake in Samsara during the 3rd quarter worth approximately $34,000. National Bank of Canada FI bought a new stake in Samsara during the 2nd quarter worth approximately $38,000. Nemes Rush Group LLC bought a new stake in Samsara during the 2nd quarter worth approximately $45,000. Finally, Continuum Advisory LLC raised its stake in Samsara by 39.1% during the 3rd quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after acquiring an additional 247 shares during the period. Institutional investors own 96.02% of the company’s stock.

Samsara Stock Performance

Shares of NYSE:IOT opened at $46.75 on Tuesday. The firm has a market capitalization of $26.24 billion, a P/E ratio of -99.48 and a beta of 1.59. The stock has a 50 day moving average price of $48.40 and a 200-day moving average price of $45.02. Samsara has a 52-week low of $27.14 and a 52-week high of $57.51.

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.