Samsara (NYSE:IOT) Earns Hold Rating from Analysts at Berenberg Bank

Investment analysts at Berenberg Bank initiated coverage on shares of Samsara (NYSE:IOT) in a report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “hold” rating and a $57.00 price target on the stock. Berenberg Bank’s price objective points to a potential upside of 15.11% from the stock’s previous close.

Several other research analysts have also recently weighed in on IOT. TD Cowen increased their price objective on Samsara from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Piper Sandler increased their price objective on Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Royal Bank of Canada increased their price objective on Samsara from $49.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Truist Financial raised their price target on Samsara from $40.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, November 18th. Finally, Loop Capital raised their price target on Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.67.

Samsara Trading Down 3.8 %

IOT stock traded down $1.98 during trading hours on Monday, hitting $49.52. 398,620 shares of the stock were exchanged, compared to its average volume of 2,430,551. The firm has a market capitalization of $27.79 billion, a P/E ratio of -105.82 and a beta of 1.61. The company has a 50-day simple moving average of $47.80 and a two-hundred day simple moving average of $45.92. Samsara has a 12 month low of $27.14 and a 12 month high of $57.51.

Insider Buying and Selling

In other Samsara news, insider John Bicket sold 107,152 shares of Samsara stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $51.13, for a total value of $5,478,681.76. Following the completion of the sale, the insider now directly owns 138,000 shares in the company, valued at approximately $7,055,940. The trade was a 43.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sanjit Biswas sold 83,333 shares of Samsara stock in a transaction that occurred 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 sale, the insider now owns 19,200 shares of the company’s stock, valued at approximately $1,033,152. The trade was a 81.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,657,460 shares of company stock valued at $80,657,496 over the last ninety days. 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 modified their holdings of IOT. Hobbs Group Advisors LLC bought a new stake in shares of Samsara during the third quarter valued at approximately $34,000. Continuum Advisory LLC grew its holdings in Samsara by 39.1% during the third quarter. Continuum Advisory LLC now owns 879 shares of the company’s stock worth $45,000 after buying an additional 247 shares in the last quarter. UMB Bank n.a. grew 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 worth $49,000 after buying an additional 418 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Samsara by 250.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,400 shares of the company’s stock worth $67,000 after buying an additional 1,000 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in Samsara by 19.2% during the third quarter. Private Trust Co. NA now owns 1,550 shares of the company’s stock worth $75,000 after buying an additional 250 shares in the last quarter. Institutional investors own 96.02% of the company’s stock.

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.