Samsara (NYSE:IOT) Now Covered by Raymond James

Raymond James began coverage on shares of Samsara (NYSE:IOT) in a research report sent to investors on Wednesday, MarketBeat reports. The firm issued a market perform rating on the stock.

A number of other equities research analysts have also issued reports on IOT. BMO Capital Markets increased their target price on shares of Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a report on Friday, December 6th. Morgan Stanley increased their price objective on Samsara from $40.00 to $52.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Truist Financial boosted their target price on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, November 18th. Royal Bank of Canada increased their price target on Samsara from $49.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Loop Capital lifted their price objective on Samsara from $46.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $51.67.

Samsara Stock Performance

Shares of IOT opened at $50.11 on Wednesday. The company’s 50-day simple moving average is $49.18 and its 200-day simple moving average is $48.11. Samsara has a 1 year low of $27.14 and a 1 year high of $61.90. The stock has a market capitalization of $28.12 billion, a PE ratio of -106.62 and a beta of 1.61.

Insider Buying and Selling at Samsara

In other Samsara news, major shareholder Sanjit Biswas sold 83,333 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $53.81, for a total value of $4,484,148.73. Following the completion of the transaction, the insider now owns 19,200 shares in the company, valued at approximately $1,033,152. This represents a 81.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Eltoukhy sold 9,043 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $53.88, for a total transaction of $487,236.84. Following the sale, the insider now owns 331,106 shares in the company, valued at $17,839,991.28. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,292,355 shares of company stock valued at $61,771,186. 60.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Samsara

Large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in Samsara by 262.0% during the fourth quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 414 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Samsara during the 4th quarter worth approximately $31,000. Hobbs Group Advisors LLC acquired a new stake in shares of Samsara in the 3rd quarter worth approximately $34,000. IFP Advisors Inc increased its stake in Samsara by 290.3% in the 4th quarter. IFP Advisors Inc now owns 804 shares of the company’s stock valued at $35,000 after purchasing an additional 598 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Samsara during the fourth quarter worth $38,000. Hedge funds and other institutional investors 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.