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

StockNews.com downgraded shares of Samsara (NYSE:IOT) from a hold rating to a sell rating in a research note released on Friday.

Several other equities research analysts also recently issued reports on IOT. Morgan Stanley lifted their price target on shares of Samsara from $38.00 to $40.00 and gave the stock an equal weight rating in a research note on Friday, September 6th. Royal Bank of Canada boosted their price target on Samsara from $47.00 to $49.00 and gave the stock an outperform rating in a research note on Friday, September 6th. TD Cowen increased their price target on Samsara from $45.00 to $46.00 and gave the company a buy rating in a report on Friday, September 6th. Wolfe Research restated an outperform rating and set a $44.00 price objective on shares of Samsara in a report on Friday, June 28th. Finally, Loop Capital increased their target price on Samsara from $42.00 to $46.00 and gave the company a buy rating in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $43.00.

Samsara Price Performance

NYSE:IOT opened at $50.49 on Friday. The business’s 50-day moving average is $43.78 and its two-hundred day moving average is $38.17. The firm has a market capitalization of $28.09 billion, a PE ratio of -105.19 and a beta of 1.52. Samsara has a 12 month low of $21.48 and a 12 month high of $51.53.

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

Insider Activity at Samsara

In other Samsara news, CAO James Andrew Munk sold 1,093 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total value of $51,709.83. Following the transaction, the chief accounting officer now owns 319,667 shares of the company’s stock, valued at $15,123,445.77. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder Horowitz Lsv Fund I. Andreessen sold 330,538 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $45.06, for a total value of $14,894,042.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James Andrew Munk sold 1,093 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $47.31, for a total transaction of $51,709.83. Following the transaction, the chief accounting officer now directly owns 319,667 shares in the company, valued at approximately $15,123,445.77. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,053,030 shares of company stock valued at $87,159,176 in the last quarter. Insiders own 60.04% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IOT. CHURCHILL MANAGEMENT Corp increased its position in shares of Samsara by 135.6% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 60,251 shares of the company’s stock worth $2,277,000 after acquiring an additional 34,679 shares in the last quarter. Mission Wealth Management LP acquired a new stake in Samsara during the 1st quarter valued at $1,100,000. Quarry LP acquired a new stake in Samsara during the 4th quarter valued at $37,000. Magnetar Financial LLC acquired a new stake in shares of Samsara in the second quarter worth $1,240,000. Finally, Swiss National Bank purchased a new position in shares of Samsara during the first quarter valued at $19,477,000. 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.