Analysts Set Samsara Inc. (NYSE:IOT) Price Target at $31.56

Samsara Inc. (NYSE:IOT) has received a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $31.56.

A number of brokerages have issued reports on IOT. The Goldman Sachs Group lifted their price objective on Samsara from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Piper Sandler upped their price objective on Samsara from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, December 1st. Wells Fargo & Company boosted their price target on Samsara from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, December 1st. StockNews.com raised Samsara from a “sell” rating to a “hold” rating in a research note on Tuesday, March 5th. Finally, JPMorgan Chase & Co. increased their price target on Samsara from $27.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, December 1st.

Insider Buying and Selling

In related news, CAO James Andrew Munk sold 9,714 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $35.46, for a total value of $344,458.44. Following the transaction, the chief accounting officer now owns 307,185 shares of the company’s stock, valued at $10,892,780.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sanjit Biswas sold 96,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $31.76, for a total value of $3,048,960.00. Following the transaction, the chief executive officer now owns 1,250,634 shares of the company’s stock, valued at $39,720,135.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO James Andrew Munk sold 9,714 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $35.46, for a total value of $344,458.44. Following the sale, the chief accounting officer now directly owns 307,185 shares in the company, valued at approximately $10,892,780.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,617,895 shares of company stock valued at $54,788,288 over the last quarter. 66.14% of the stock is owned by corporate insiders.

Institutional Trading of Samsara

A number of institutional investors have recently made changes to their positions in the business. State of Wyoming purchased a new position in Samsara in the 4th quarter worth $27,000. Fred Alger Management LLC purchased a new position in shares of Samsara during the 3rd quarter valued at about $28,000. Macquarie Group Ltd. raised its stake in shares of Samsara by 37.3% during the 4th quarter. Macquarie Group Ltd. now owns 2,391 shares of the company’s stock valued at $30,000 after buying an additional 649 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Samsara during the 2nd quarter valued at about $33,000. Finally, Quarry LP purchased a new position in shares of Samsara during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 89.39% of the company’s stock.

Samsara Stock Performance

Shares of IOT stock opened at $39.41 on Wednesday. Samsara has a fifty-two week low of $16.63 and a fifty-two week high of $40.54. The firm has a market cap of $21.29 billion, a P/E ratio of -74.36 and a beta of 1.55. The business’s 50 day moving average price is $34.26 and its 200-day moving average price is $30.33.

About Samsara

Samsara Inc provides solutions that connect 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; and applications for video-based safety, vehicle telematics, apps and driver workflows, equipment monitoring, and site visibility.