Samsara (NYSE:IOT) Earns “Market Perform” Rating from BMO Capital Markets

BMO Capital Markets reissued their market perform rating on shares of Samsara (NYSE:IOTFree Report) in a report issued on Tuesday morning, Benzinga reports. They currently have a $40.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Loop Capital assumed coverage on Samsara in a report on Thursday, April 18th. They set a buy rating and a $42.00 price objective for the company. Royal Bank of Canada restated an outperform rating and set a $47.00 price objective on shares of Samsara in a report on Friday, June 7th. Piper Sandler restated a neutral rating and set a $36.00 price objective (down previously from $41.00) on shares of Samsara in a report on Friday, June 7th. StockNews.com upgraded Samsara from a sell rating to a hold rating in a report on Saturday, May 25th. Finally, Evercore ISI decreased their price target on Samsara from $41.00 to $40.00 and set an in-line rating for the company in a report on Friday, June 7th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Samsara presently has a consensus rating of Hold and an average price target of $35.64.

Read Our Latest Stock Report on Samsara

Samsara Stock Down 2.8 %

NYSE IOT opened at $28.60 on Tuesday. The company has a market cap of $15.74 billion, a price-to-earnings ratio of -57.20 and a beta of 1.51. Samsara has a 52 week low of $21.48 and a 52 week high of $42.28. The business has a 50 day moving average price of $35.42 and a 200-day moving average price of $34.39.

Insider Buying and Selling

In other Samsara news, CAO James Andrew Munk sold 1,105 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now directly owns 337,523 shares in the company, valued at approximately $10,129,065.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Marc L. Andreessen sold 277,484 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $28.88, for a total transaction of $8,013,737.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO James Andrew Munk sold 1,105 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $30.01, for a total value of $33,161.05. Following the transaction, the chief accounting officer now owns 337,523 shares in the company, valued at $10,129,065.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,926,544 shares of company stock valued at $67,188,513. Corporate insiders own 60.04% of the company’s stock.

Hedge Funds Weigh In On Samsara

Institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in Samsara during the 4th quarter worth approximately $37,000. Fred Alger Management LLC purchased a new stake in Samsara in the 3rd quarter worth approximately $28,000. Montag A & Associates Inc. lifted its holdings in Samsara by 1,200.0% in the 4th quarter. Montag A & Associates Inc. now owns 1,300 shares of the company’s stock worth $43,000 after buying an additional 1,200 shares during the period. Tradition Wealth Management LLC purchased a new stake in Samsara in the 4th quarter worth approximately $46,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Samsara by 31.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,575 shares of the company’s stock worth $53,000 after buying an additional 381 shares during the period. 89.39% of the stock is currently owned by institutional investors.

About Samsara

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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.

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Analyst Recommendations for Samsara (NYSE:IOT)

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