Samsara (NYSE:IOT) Sets New 52-Week High – Still a Buy?

Samsara Inc. (NYSE:IOT)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $61.90 and last traded at $58.82, with a volume of 5419329 shares. The stock had previously closed at $60.96.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IOT. Piper Sandler boosted their price target on shares of Samsara from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. BMO Capital Markets boosted their price target on shares of Samsara from $44.00 to $57.00 and gave the stock a “market perform” rating in a research report on Friday, December 6th. Morgan Stanley boosted their price target on shares of Samsara from $40.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Loop Capital boosted their price target on shares of Samsara from $46.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Finally, Berenberg Bank began coverage on shares of Samsara in a research report on Monday, February 3rd. They issued a “hold” rating and a $57.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Samsara currently has a consensus rating of “Hold” and an average target price of $51.67.

Samsara Stock Performance

The company has a 50 day simple moving average of $48.62 and a two-hundred day simple moving average of $47.60.

Insider Buying and Selling at Samsara

In other Samsara news, insider John Bicket sold 75,600 shares of Samsara stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $55.89, for a total transaction of $4,225,284.00. Following the transaction, the insider now owns 400,020 shares of the company’s stock, valued at $22,357,117.80. The trade was a 15.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjit Biswas sold 75,594 shares of Samsara stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $55.89, for a total value of $4,224,948.66. Following the transaction, the chief executive officer now directly owns 120,292 shares in the company, valued at approximately $6,723,119.88. This trade represents a 38.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,530,506 shares of company stock valued at $75,086,182 in the last 90 days. 60.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Samsara

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC grew its stake in shares of Samsara by 262.0% in the 4th quarter. NewEdge Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 414 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Samsara in the 4th quarter valued at approximately $31,000. Hobbs Group Advisors LLC bought a new stake in shares of Samsara in the 3rd quarter valued at approximately $34,000. IFP Advisors Inc grew its stake in shares of 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 buying an additional 598 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Samsara in the 4th quarter valued at approximately $38,000. 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.